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APAmid shutdown-induced chaos, travelers stand in line in a TSA screening area at Philadelphia International Airport in Philadelphia. The US government shutdown has become the longest in history, and with no sign of a resolution soon its economic toll is deepening.Now in its 36th day, the shutdown has surpassed the previous record set in early 2019 during President Donald Trump's first term. Every week that passes costs the economy between from $10billion to $30 billion, based on analysts' estimates, with several landing in the $15 billion range.In the past, the hit to economic growth has been temporary, with furloughed employees getting back pay and the federal government making up for the halted spending once reopened.This one stands to inflict more damage, and not just because of its length, economists say. The economy is more fragile than seven years ago, with many Americans fretting about inflation and job prospects. And unlike during the 2018-2019 shutdown, the fallout extends beyond federal workers missing paychecks to millions of Americans losing full access to food assistance heading into the holiday season. "The experience, historically, is that government shutdowns don't cause calamity," said Jonathan Millar, a senior US economist at Barclays. "This time could be different."Depending on its length, the shutdown could lower fourth-quarter growth by as much as 2 percentage points.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onUS government shutdownlongest shutdown in historyeconomic toll of shutdownshutdown impact on economydonald trumpUS shutdown (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onUS government shutdownlongest shutdown in historyeconomic toll of shutdownshutdown impact on economydonald trumpUS shutdown(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Explore More Stories123
