Shutdown Cost U.S. $11 Billion

A report from the Congressional Budget Office shows that the 35-day partial government shutdown cost the U.S. economy $11 billion.

While the CBO believes that roughly $8 billion of those losses are recoverable, at least $3 billion are permanent.

This devastating news comes as a bipartisan committee is beginning the daunting task of attempting to find a middleground between U.S. lawmakers and the president that will keep the government open after the three-week stopgap measure expires February 15.

The president has threatened to shut the government down again if Democrats refuse to fund his $5.7 billion wall on the U.S.-Mexico border.

Some lawmakers, however, are seeking to eliminate that possibility by proposing legislation that would outlaw shutdowns altogether.

The president has also threatened to declare a state of emergency to build his wall if all else fails.

He is likely to indicate which avenue he prefers during his long-awaited State of the Union address on February 5.

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