Photo: Mandel Ngan / AFP / Getty Images

A government shutdown will reduce U.S. GDP in the first quarter of 2018 by upwards of 0.2%—or $6.5 billion—each week it continues, according to Beth Ann Bovino, chief U.S. economist for S&P Global Ratings.

Why it's so costly: Roughly half of the hit results from the lost production of non-essential government workers.

  • After previous shutdowns, Congress has agreed to repay furloughed workers for their lost wages, but the economy did not regain their lost productivity since they were barred from working while the government was closed.

Indirect costs: A shutdown will affect more than just government employees and agencies, Bovino warns.

  • Private contractors who rely on government spending will also be affected. Though they will eventually recover that lost business, they "are going to push off some of their investment ideas or investment plans until they get more certainty," she says.
  • According to a National Association of Government Contractors survey following the 2013 shutdown, 29% of such companies delayed hiring as a result, and it negatively affected 58% of them.
  • Bovino said the closing of national parks and monuments hurts local businesses that rely on tourist traffic.

A higher deficit: Government shutdowns make running the government more expensive. The Office of Management and Budget estimates that the 2013 shutdown raised the budget deficit by at least $2 billion, due to the added costs of stopping and starting government programs.

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Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. EST: 32,135,220 — Total deaths: 981,660 — Total recoveries: 22,149,441Map.
  2. U.S.: Total confirmed cases as of 10 p.m EST: 6,975,980 — Total deaths: 202,738 — Total recoveries: 2,710,183 — Total tests: 98,481,026Map.
  3. Politics: House Democrats prepare new $2.4 trillion coronavirus relief package.
  4. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  5. Business: America is closing out its strongest quarter of economic growth.
  6. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  7. Sports: Pac-12 will play this fall despite ongoing pandemic — Here's what college basketball will look like this season.
  8. Science: Global coronavirus vaccine initiative launches without U.S. or China — During COVID-19 shutdown, a common sparrow changed its song.
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Pac-12 will play football this fall, reversing course

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The Pac-12, which includes universities in Arizona, California, Colorado, Oregon, Utah and Washington state, will play football starting Nov. 6, reversing its earlier decision to postpone the season because of the coronavirus pandemic.

Why it matters: The conference's about-face follows a similar move by the Big Ten last week and comes as President Trump has publicly pressured sports to resume despite the ongoing pandemic. The Pac-12 will play a seven-game conference football season, according to ESPN.

Dave Lawler, author of World
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Global coronavirus vaccine initiative launches without U.S. or China

Data: Gavi, The Vaccine Alliance; Map: Naema Ahmed/Axios

A global initiative to ensure equitable distribution of coronavirus vaccines now includes most of the world — but not the U.S., China or Russia.

Why it matters: Assuming one or more vaccines ultimately gain approval, there will be a period of months or even years in which supply lags far behind global demand. The COVAX initiative is an attempt to ensure doses go where they're most needed, rather than simply to countries that can produce or buy them at scale.

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