US Government Shutdown Unlikely to Be Prolonged, Goldman Sachs Predicts

GuruFocus12-20 01:40

Given President-elect Donald Trump's rejection of the proposed funding measure, which also includes disaster and agricultural help, the probability of a U.S. government shutdown beginning Friday has ...

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Goldman Sachs (GS, Financials) analysts, however, advise that any closure is unlikely to last.Goldman Sachs said in a research report issued late Wednesday that it does not foresee a near-term fix for raising the debt ceiling. The note states that the matter has not been actively debated.Goldman Sachs projected that, for every week it lasts, a government shutdown may lower GDP growth in the current quarter by 0.15 percentage point. The company did note, however, that if the government reopens the drop will probably be offset in the next quarter.Tuesday's proposed continuing resolution by congressional leaders would finance the government until March 14. The plan calls for help for agricultural and disaster relief totaling around $100 billion. Trump supports disaster assistance and agricultural spending, but he is against the present measure and instead advocates a debt limit rise.Goldman Sachs said that it is still unknown if a new budget plan would pass before Friday's deadline. To prevent a shutdown, congressional Republicans might try to pass a \"clean\" budget extension; however, this strategy could postpone disaster assistance and other clauses until early next year.Set to expire on Jan. 2, the debt ceiling seems not to be immediately under demand. Goldman Sachs pointed out that the Treasury Department has enough borrowing capability to endure into the third quarter of 2025, therefore lessening the need to solve the problem.Though there is still possibility for temporary interruptions, Goldman Sachs projects a small economic effect should a shutdown take place and be promptly fixed.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492648362"}