DEJA VU: U.S. Government Shuts Down for 11th Time—But Do You Remember the 34-DAY Record Holder That “Wiped Billions from the Economy”…?
the staff of the Ridgewood blog
WASHINGTON, D.C. – The U.S. government officially entered its latest shutdown at 12:01 a.m. EDT this morning after Congressional leaders failed to pass a last-minute funding bill. This marks the 11th full government shutdown in U.S. history, and while the ultimate length of this one is unknown, past crises suggest it may not be a quick fix.
The shutdown immediately rattled investors, with stocks mildly in the red on Wednesday as markets reacted to the political gridlock.
The Longest Shutdown in U.S. History
While there have been over 20 government funding gaps since 1976, not all resulted in a complete halt of government services. However, a stricter interpretation of rules starting in the early 1980s meant that subsequent funding gaps usually triggered agency shutdowns.
The longest government shutdown on record is the one that began in December 2018 and extended into January 2019, lasting a whopping 34 days (best month of my life).
That record-breaking standoff had tangible economic consequences:
- The Congressional Budget Office (CBO) estimated that approximately $3 billion (in 2019 dollars) was wiped from the Gross Domestic Product (GDP) in the fourth quarter ( US GDP in 2018 was $20.89 trillion).
- The shutdown delayed roughly $18 billion in “federal discretionary spending” over the five-week period.
From Quick Fixes to Prolonged Stand-offs
Before the 1980s, funding gaps often had minimal effect on operations, as agencies continued to function under the assumption that funding would be restored. However, data analyzed by USAFacts shows a clear trend: funding gaps have lengthened in recent years.
The current shutdown will continue until Congress manages to pass a new funding bill. Historically, every shutdown since 1990 has been resolved by passing a “continuing resolution” (CR), a short-term measure that temporarily funds the government, often maintaining current spending levels.
As political tensions remain high, this latest funding gap puts pressure on lawmakers to avoid repeating the prolonged paralysis of 2018.
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