The U.S. Political News Network, citing a White House memo obtained on October 1, that U.S. President Trump's economic adviser warned that if the U.S. government "stops" time extended, it would cause serious economic consequences.
According to reports, the White House Council of Economic Advisers warned in a memo that every week the U.S. government "shuts down", the U.S. gross domestic product (GDP) may lose $15 billion. If it is "shut down" for one month, an additional 43,000 people will lose their jobs. The estimate doesn't factor in the loss of 1.9 million federal civilian employees who are forced to leave or work without pay, 80% of whom live in the Washington area.
According to the "Political News Network", the four-page memo also estimates that if the government's "shutdown" lasts for a month, consumer spending will be reduced by $30 billion, half of which will come from the direct impact on federal employees, and the rest will come from spillover effects on other industries. The memo cited the analysis of Goldman Sachs Group, Fiserv and the Federal Reserve to draw relevant conclusions.
The U.S. Senate failed to pass a new temporary allocation bill before the government funds were exhausted due to differences between the two parties on health insurance-related benefits and so on. The U.S. federal government clock was “stop” again almost seven years later on October 1st. U.S. Vice President Wences warned on October 1st that if the federal government “stop” lasts longer, it could lead to cuts. White House spokesman Wright said federal government cuts “are likely” to happen and “will happen soon.”