Hit the ceiling

8 January 2019 By Gina Chon Follow @GinaChon

The partial government closure sparked by President Donald Trump’s insistence on border-wall funding hurts some federal workers. But its economic impact will probably be minimal. The real danger comes if the dispute infects looming discussions about the U.S. debt ceiling.

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U.S. President Donald Trump will address the country on Jan. 8 to explain why what he sees as a crisis at the U.S.-Mexican border requires spending $5.7 billion on a wall.

A dispute with Congress over funding for the structure sparked a partial government shutdown that started while the Republicans still had control of both chambers and has now lasted 18 days. Democrats took control of the House on Jan. 3, while Republicans retain the majority in the Senate.

The shutdown affects 25 percent of government operating expenses that lawmakers have not yet approved. About 800,000 government employees are on furlough or are working without pay since Dec. 22.

Separately, the U.S. debt limit will be reinstated on March 2 unless lawmakers agree to suspend or raise the ceiling. Total public U.S. debt that is subject to the limit was $21.9 trillion as of Jan. 4, according to the U.S. Treasury Department.

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