The wall will cost $21 billion to build. Last time there was a government shutdown, the government lost almost $24 billion. It would cost less to build the wall than to shut down the government.
Standard and Poor’s said the shutdown took $24 billion out of the economy and reduced yearly fourth quarter GDP growth by 0.6 percent. (In December, the comic strip Doonesbury referenced this report, and we rated it Mostly True.)
Macroeconomic Advisers (in a report for the Peterson Foundation) estimated the shutdown cut 0.3 points off of fourth-quarter growth, “mainly by interrupting the flow of services produced by federal employees.”
The Macroeconomic Advisers report said private-sector effects were limited, especially because the furloughed workers received back pay.Article Continues Below
Bloomberg News surveyed 71 economists and found the median GDP growth projection immediately after the shutdown was 0.4 points lower than a survey conducted a month earlier.
McConnell: Border wall will cost $12B-$15B
(CNN)Senate Majority Leader Mitch McConnell said Thursday that he expects the cost of building a wall along the Mexican border to be between $12 billion to $15 billion.
But neither McConnell nor House Speaker Paul Ryan said precisely how Congress would pay for the wall, or whether they expect Mexico to repay the cost.
Ryan said Thursday he expects President Donald Trump to submit a plan for paying for the wall, but did not want to talk about details before the White House submits its proposal.