Bessent says government shutdown 'starting to cut into muscle' and economy may be losing billions per day

Treasury Secretary Scott Bessent on Wednesday said the ongoing government shutdown could be costing the U.S. economy billions of dollars per day.

Bessent said at a news conference the partial government shutdown is "starting to cut into muscle here" as the shutdown continues into its third week.

"We believe that this shutdown may start costing the U.S. economy up to $15 billion a day," Bessent said. The shutdown began on October 1, as Congress and the White House hadn't enacted a funding bill when fiscal year 2026 began that day.

The Treasury secretary called for moderate Democrats in the Senate to "be heroes" and to "break away from the hive of radicalism" by supporting the Senate Republicans' continuing resolution and voting to "reopen the government for the American people.