WASHINGTON, D.C. — In response to the CBO’s recent report that the partial federal government shutdown cost the U.S. economy $3 billion, John Tamny, Director of the FreedomWorks Foundation’s Center for Economic Freedom, commented:
“To say that the economy has suffered as a result of the partial shutdown is not a serious presumption. Those who think the partial shutdown weighed on growth are losing sight of one key fact– the federal government has no resources.
“Governments can only spend insofar as they can access wealth already produced in the private sector. In short, the growth already happened. To believe that the shutdown actually slowed the economy down is to embrace the sort of double-counting that would make even the most crooked of accountants blush.”