Shutdown's economic damage is 'a little bit worse' than predicted, Trump economic adviser admits
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Whoopsies! It turns out that when Donald Trump’s top economic adviser claimed that the shutdown would cost the economy a mere $1.2 billion a week, “assuming that it ends relatively quickly,” he underplayed things a little bit. Kevin Hassett, the chaiShutdown's economic damage is 'a little bit worse' than predicted, Trump economic adviser admits
Whoopsies! It turns out that when Donald Trump’s top economic adviser claimed that the shutdown would cost the economy a mere $1.2 billion a week, “assuming that it ends relatively quickly,” he underplayed things a little bit. Kevin Hassett, the chair of the White House Council of Economic Advisers, is now saying that “the damage is a little bit worse” than he’d previously calculated. Why is it worse? Simple: “actually the damage is a little bit worse because of government contractors, something that was excluded from our first analysis.” Well, yeah. If you exclude some of the economic impact of a shutdown from your analysis of the economic impact of the shutdown, your projections will be optimistic. It’s funny how that works. This keen analysis, by the way, was brought to you by the same guy who thinks federal workers are better off because of the shutdown. Read more