US Treasury Secretary Scott Bessent warns the government shutdown is costing the economy $15 billion daily, urging swift bipartisan action.
WASHINGTON D.C.: The ongoing federal government shutdown in the United States is now costing the country’s economy an estimated $15 billion per day in lost output, according to Treasury Secretary Scott Bessent. Speaking at a news conference on Wednesday, Bessent described the shutdown as a growing threat to economic momentum, particularly as it begins to affect critical sectors.
“We believe that the shutdown may start costing the U.S. economy up to $15 billion a day,” Bessent said, emphasising that the economic disruption is now “cutting into muscle” rather than just surface-level inefficiencies.
Now in its second week, the shutdown has stalled federal services, delayed payments, and created uncertainty in both public and private sectors. Bessent called on lawmakers to resolve the standoff urgently, urging Democrats to “be heroes” by joining Republicans in passing legislation to reopen the government.
The US shutdown economic cost comes at a time when the country is witnessing a wave of new investment, particularly in sectors like artificial intelligence. “The AI boom is sustainable and just beginning,” Bessent noted, “but the shutdown is increasingly an impediment.”
Economists and analysts warn that the longer the shutdown continues, the more long-term damage it could cause, including eroding business confidence, slowing consumer spending, and delaying government contracts that fuel infrastructure and innovation.
With no resolution yet in sight, the US shutdown economic cost is emerging as a central issue in Washington’s political debate and may further impact upcoming fiscal and budgetary negotiations.
