Federal shutdown could cost US economy up to $14 billion

WASHINGTON, Oct 29 (Reuters) – The federal government shutdown could cost the U.S. economy between $7 billion and $14 billion, shaving up to 2% from gross domestic product in the fourth quarter due to the lapse in government spending, the nonpartisan Congressional Budget Office said on Wednesday.
The partial shutdown was in its 29th day on Wednesday with no end in sight, as Senate Republicans called on Democrats to support a stopgap measure to fund federal agencies through November 21 and Democrats demanded negotiations to extend expiring federal tax credits to help Americans purchase private health insurance coverage through the Affordable Care Act.
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CBO estimated that the economy would suffer as a result of delayed federal spending for employee compensation, goods and services, and food stamp benefits for low-income Americans.