We know that federal workers aren’t getting paid, and at some point payments will end for local residents receiving Supplemental Nutrition Assistance Program benefits.
Now a local website has quantified just how much those paychecks and benefits total locally. What’s harder to quantify is what the absence of those paychecks and benefits — and the loss of spending that would have come from them — will mean.
The Ascent, the new personal finance venture from The Motley Fool in Alexandria, estimates a monthly loss of take-home income related to the shutdown to be $819.2 million in D.C., $796 million in Virginia and $690.5 million in Maryland.
And while federal employees are guaranteed back pay — President Donald Trump signed a bill Thursday ensuring that — remember that much of that spending will never happen. Sure, federal workers will pay some bills and make deferred buys when they get the back pay, but some discretionary spending is gone forever. Local restaurants will never…Read the full story from the Washington Business Journal.