🇺🇸 The US government has now entered day number 35, making it the LONGEST in history.

Since the shutdown began on October 1st, the US government has borrowed $600 BILLION worth of debt.

That's +$17 billion PER DAY.

Today marks day 35 of the 2025 US government shutdown.

This ties the longest shutdown in history seen during President Trump's 1st term, in December 2018.

Historically speaking, the average length of a shutdown is 8 days.

The current shutdown is now 4.5 TIMES longer.

And, the end appears to be distant at best.

Currently, markets see the US government shutdown lasting until December 1st, per Polymarket.

This would mark a 61 day government shutdown, or 26 days LONGER than the current record.

The economic implications are spreading.

Since October 1st, 3.2 MILLION US airline passengers have been impacted by delays or cancellations.

With the shutdown expected to last through Thanksgiving, ~3.5 million delays/cancellations are expected in Thanksgiving week.

Disruptions may exceed 10 million by December 1st.

Since the shutdown began, federal unemployment claims have skyrocketed.

The number of federal employees filing for unemployment has jumped +1,200% since the shutdown began on October 1st.

This officially marks the highest number of federal unemployment claims since 2018.

In a report provided to The Kobeissi Letter by the Congressional Budget Office, the shutdown will now:

1. Reduce Q4 GDP by up to 200 bps
2. Erase -$39B from economy
3. Delay up to $48B worth of payments
4. Delay $23B in paychecks for Federal workers

The shutdown must end.

🔗 Kobeissi Letter