Maloney Statement on Trump Shutdown
President Trump said last week that he would be “proud to shut down the government for border security.” Today, he made good on that threat and it is terrible news for working families across the country and for our economy.
Thanks to this Trump shutdown, 380,000 government employees will be temporarily furloughed and many others will be forced to work without pay, including more than 50,000 Customs and Border Protection Agents, more than 50,000 TSA agents, almost 14,000 FBI agents, and the Secret Service agents who will be protecting the President.
Families will find National Parks facilities closed, travelers will be unable to get passports, home buyers will need to wait longer to get loans, and millions of Americans will find that services they rely on are now unavailable.
If this shutdown lasts more than a very short period, it could also have real economic costs.
The 2013 federal government shutdown:
- lowered real GDP growth by 0.3% on an annualized basis
- cost $24 billion (approximately $1.5 billion per day)
- hurt consumer confidence and retail sales
- slowed mortgage and business lending
- caused a spike in short-term interest rates
- disrupted imports and exports
The effects of shutdowns don’t end when we reopen the government. They create economic risks that hamper growth, may reduce business investment, and create uncertainties that slow economic growth, which in turn leads to fewer jobs and real pain for working families.
For millions of Americans, this Trump shutdown is like coal in their stockings. Apparently, this is his way of saying “Merry Christmas.”
Our country and the American people deserve better. We need to keep the government up and running. We need to do our jobs. And the President needs to give up on his vanity-project: a border wall that will do nothing to make us safer.
I continue to support the deal passed unanimously in the Senate on Wednesday or either of options that Speaker-designate Pelosi presented to the President.