Shutdown may start costing economy $15B a week: Bessent

Treasury Secretary Scott Bessent said Wednesday that the ongoing government shutdown may start costing the economy as much as $15 billion per week.

In his remarks Bessent actually used the figure of $15 billion a day, but after this story was initially published, a Treasury official said he had been referring to a report from the Council of Economic Advisers stating that there could be “an economic loss of approximately $15 billion per week.”

“We call on the moderate Democrats in the Senate to be heroes. Be heroes, break away from the hive of radicalism and do something for the American people, because we are starting to cut into muscle here,” Bessent said during a press conference.

“We believe that the shutdown may start costing the U.S. economy up to $15 billion a [week],” he said.

R