WH: Shutdown could bring GDP down by 0.1%-0.2%
Director of the Office of Management and Budget Shalanda Young said on Friday that a potential government shutdown could result in a 0.1%-0.2% hit to the United States GDP, stressing that equals to at least $26 billion.
Young stressed that the economy could still pick up again in the following quarter but still insisted the economy's performance should not be risked for a "manufactured shutdown," slamming House Republicans for having "turned their back" on the budget deal with the Biden administration struck earlier this year.
The US official noted closing the government would not result in a "large spike" in spending but warned the real cost would be the inability of American citizens to access services.