House Budget Committee Chairman Jodey Arrington (R-Texas) issued a statement following the release of new data from the Congressional Budget Office (CBO) regarding the economic effects of the ongoing government shutdown.
“Democrats are playing politics, and the American people are paying the price. Even the independent, nonpartisan Congressional Budget Office confirmed the economy will lose 1% in growth because of the Schumer shutdown. For hardworking families that means higher unemployment, lower wages, and less money in their pockets.
"And while Democrats believe 'every day gets better for them,’ the same cannot be said for the American people. In fact, a six-week shutdown means growth would be 1.5 percentage points lower, an eight-week shutdown would reduce growth by 2.0 percentage points, and it only gets worse from there.
Democrats say they shut down the government to help Americans, but this Halloween they’re all trick and no treat. The American people deserve better.”
The CBO released its findings in response to a request from Chairman Arrington about how a prolonged government shutdown could affect economic performance. According to CBO estimates provided to Congress, each additional week of a federal government shutdown further reduces projected economic growth rates.
