Congressman Rich McCormick Outlines How the Government Shutdown Impacts Georgia
WASHINGTON - Today, Congressman McCormick sounded the alarm on the severe economic fallout that a prolonged federal government shutdown is inflicting on Georgia—impacts including job losses, state revenue, and critical programs for vulnerable Georgia families.
A new White House analysis from the Council of Economic Advisers (CEA) lays out the consequences:
● Georgia's Gross State Product falls by approximately $458 million per week during the shutdown, which amounts to about $2 billion per month.
● Unemployment in Georgia could rise by ~1,400 workers if the shutdown lasts one month.
● Roughly 109,000 federal workers in Georgia, about 2.3% of the state's workforce, face furlough or unpaid work status.
Disruption to Vital Benefits:
● SNAP benefits in Georgia (1.36 million enrolled, over 526,00 children) continue only for ~30 days before funding interruptions take effect.
● Social security checks (versus direct deposit) are at risk of delay for around 13,200 Georgia seniors.
● The WIC program serves about 231,000 women and children in Georgia and lost federal funding immediately upon the shutdown, which led to reliance on limited local reserves.
Blow to Small Businesses & Consumer Spending:
● SBA loan distribution freeze, which delays $131 million in support for Georgia small businesses for over a month.
● Federal contract payments fall, resulting in $312 million lost in Georgia under a month-long shutdown.
● Lost wages for furloughed federal workers shrink consumer spending in Georgia by about $1 billion each month of a shutdown.
"Every day this shutdown drags on, Georgia families, seniors, and small businesses are impacted greatly,"said Congressman McCormick. "The numbers are clear: billions lost, benefits disrupted, jobs at risk. We cannot allow partisan political games to punish our citizens. It's time to restore stability, pass the CR, and get our government back on track."
Source: Council of Economic Advisors (CEA)
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