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Shutdown could cost US economy $15 billion a week, Treasury says
The two-week-old federal government shutdown may cost the U.S. economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday, correcting an earlier statement from Treasury Secretary Scott Bessent that put the cost at up to $15 billion per day. Bessent used the incorrect estimate in two separate appearances earlier on Wednesday, while urging Democrats to "be heroes" and side with Republicans to end it. A Treasury official said the cost estimate was based on a report by the White House Council of Economic Advisers. Bessent told a news conference that the shutdown was starting ... (full story)
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