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October 16, 2025Cryptopolitan logoCryptopolitan

Bessent believes the current U.S. shutdown will cost the economy as much as $15 billion per week

￰0￱ Secretary Scott Bessent stated on Wednesday that the current ￰1￱ shutdown will cost the economy approximately $15 billion per ￰2￱ had previously mentioned $15 billion a day, but a Treasury official confirmed that Bessent had been referring to a report from the Council of Economic ￰3￱ report reveals that the government shuts down when Congress fails to pass appropriation bills or continuing resolutions to fund government operations by the fiscal year deadline on October ￰4￱ also said a government shutdown occurs when current funding expires by the fiscal year ￰5￱ shutdown reduces the U. S.’s quarterly GDP by 0.2% points each week Goldman Sachs estimated that government shutdowns reduce the U.

S. economy’s quarterly growth rate by around 0.2 percentage points for each week the shutdown ￰6￱ Federal Reserve also arrived at similar GDP projections amid the ￰7￱ bank’s economic loss estimate amounts to roughly $15 billion per week if applied to current GDP ￰8￱ figure is calculated by multiplying Goldman Sachs’ 0.2 percent estimate by the current GDP of $30.4 trillion, then dividing by 4. “We call on the moderate Democrats in the Senate to be ￰9￱ heroes, break away from the hive of radicalism, and do something for the American people, because we are starting to cut into muscle ￰10￱ believe that the shutdown may start costing the ￰11￱ up to $15 billion a week.” – Scott Bessent , Treasury Secretary of the ￰12￱ Trump administration is preparing for a lengthy government shutdown, as Republicans are gearing up to make moves to alleviate political pain that might come back on them while trying to make things hard for ￰13￱ Speaker Mike Johnson stated on Monday that the government shutdown was poised to become one of the longest in ￰14￱ also believes that the shutdown may be shorter in duration if Democrats accept the House-passed, GOP-written continuing resolution to fund the ￰15￱ the government shutdown passes two weeks, Johnson argues that Democrats should drop their partisan demands and pass a clean, no-strings-attached budget to reopen the government and pay our federal ￰16￱ leaders have engaged in a back-and-forth on government funding as Democrats pressure Republicans to make concessions on ￰17￱ are calling for the Affordable Care Act tax credits that are set to expire in late ￰18￱ plans to keep funding the military amid shutdown Goldman Sachs also estimates that a month-long shutdown would result in 43,000 additional unemployed ￰19￱ Trump administration is making efforts to redistribute funds to ensure the military gets paychecks during the ￰20￱ initiative fulfills the GOP and Trump’s plans, but it also deprives Democrats of a vote to fund the ￰21￱ dared Democrats on Tuesday to push back on Trump’s maneuverings, saying they can go to court and challenge troops being ￰22￱ speaker defended the Trump administration and stated that it had the right to reallocate funds that had been appropriated by Congress to the Department of ￰23￱ also stated that the government could move funds from research and development accounts that had not been spent and that could be used for military ￰24￱ revealed that the government plans to keep funding the Special Supplemental Nutrition Program for Women, Infants, and ￰25￱ House Press Secretary Karoline Leavitt revealed that the Trump Administration will use funds from Section 32 tariff revenue to cover the nutrition program, which serves around 6 million participants per ￰26￱ Shelly Moore Capito believes that the shutdown will last for the long haul into November, potentially challenging the longest shutdown on record, a 35-day halt in funding from late 2018 to ￰27￱ called the continued shutdown disappointing and reiterated the GOP’s call for Democrats to reopen the government and engage in ￰28￱ up to $30,050 in trading rewards when you join Bybit today

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