How Bad is the Shutdown for the Colorado Economy?
The federal government shutdown is no game in Colorado. Last time we checked, Colorado was home to some 53,000 federal workers, from park rangers to scientists to prison guards, who collectively earn about $1 billion in wages every three months. Having the bulk of them sitting at home, uncertain of their jobs or their income, is bad for the economy.
But it’s hard to tell exactly how bad because the places we usually turn for economic data are closed, thanks to the shutdown.
Yep, that’s right. Want the most recent information on federal workers from the U.S. Census Bureau? Too bad, it’s closed until further notice. Want the monthly jobs report from the U.S. Department of Labor to see if our economic ship is sailing true or listing? Sorry, not this month. Want to know from the Bureau of Economic Analysis how consumers and investors are responding to the shutdown? Maybe later, it’s closed due to Congressional failure.
There are a lot of personal stories about the economic harm caused by the shutdown, and at least for now that’s what we’ll have to go on. But relying on anecdotes to describe the economy or make informed decisions is like playing pin the tail on the donkey – a lot of stumbling around groping blindly for the target.
The federal government does a lot of important things, but one of the most important is providing the data and information that allow us to know who we are collectively, what we’re doing as a country and how we can do better. Congress needs to stop with the games and let federal agencies, federal employees and our economy get back to work.
