US Government Shutdown Projected to Extend to December 1, Doubling Previous Record
The 36-day shutdown has surpassed the longest in US history, with CBO projecting billions in economic losses if it continues toward the forecasted 61 days.
Summary
On November 5, the US federal government shutdown entered its 36th day, surpassing the previous 35-day record from 2018–2019. The Congressional Budget Office projects that fourth-quarter GDP growth could decline by 1–2%, estimating economic losses of $7 billion at four weeks, $11 billion at six weeks, and $14 billion at eight weeks. This aligns with earlier Polymarket forecasts suggesting the shutdown could reach 61 days. The prolonged funding lapse continues to strain essential services, including a shortage of more than 3,000 air traffic control staff.
Terms & Concepts
- Government Shutdown: A situation where federal government operations are halted due to a lack of approved funding, impacting agencies and public services.
- Polymarket: A decentralized prediction market platform that lets users bet on the outcomes of real-world events using cryptocurrency.
- Air Traffic Control: A service that manages aircraft movements to ensure safety and efficiency in national airspace.