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The US Government Shutdown Enters Day 36, Setting a New Record
BlockBeats News, November 5th. As the Eastern Time Zone of the United States officially entered November 5th, the U.S. federal government shutdown entered its 36th day, setting a new record for the longest government shutdown in history. The U.S. government previously experienced a 35-day shutdown from the end of 2018 to the beginning of 2019.
The U.S. Democratic and Republican parties have been deadlocked, as none of the 13 votes in the Senate on a temporary funding bill proposed by the Republicans were able to pass. The U.S. Congressional Budget Office had previously stated that depending on the duration of the government shutdown, the annualized GDP growth rate for the U.S. in the fourth quarter of this year is expected to decrease by one to two percentage points. This means that if the shutdown lasts for 4 weeks, the U.S. economy will lose $7 billion; if it lasts for 6 weeks, the loss will rise to $11 billion; and if it lasts for 8 weeks, the loss could reach as high as $14 billion.
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