"The Congressional Budget Office estimated that a six-week shutdown will reduce growth in this year's fourth quarter by about 1.5 percentage points. That would cut growth by half from the third quarter. The reopening should boost first-quarter growth next year by 2.2 percentage points, the CBO projected, but about $11 billion in economic activity will be permanently lost. The previous longest government shutdown, in 2018-2019, lasted 35 days but only partially shut the government because many agencies had been fully funded."
"National News Airlines scrapped more than 2,000 flights by Monday evening after canceling 5,500 since Friday on orders from the Federal Aviation Administration. About 1.25 million federal workers haven't been paid since Oct. 1. Thousands of flights have been canceled, a trend that is expected to continue this week even as Congress moves toward reopening the government. Government contract awards have slowed and some food aid recipients have seen their benefits interrupted."
A record-length federal shutdown left about 1.25 million federal workers unpaid since Oct. 1 and prompted widespread flight cancellations and travel disruption. Thousands of flights were canceled, with airlines continuing to scrap schedules under FAA orders, and government contract awards slowed. Some food aid recipients experienced interruptions to benefits. Most lost economic activity will be reclaimed when federal workers receive back pay, but some losses are permanent: canceled flights, missed meals, and foregone purchases. A six-week shutdown is estimated to shave about 1.5 percentage points from fourth-quarter growth and permanently remove roughly $11 billion from the economy.
Read at Boston.com
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