U.S. Government Shutdown Costs Economy $15 Billion Weekly, Goldman Sachs Estimates
Treasury Secretary Scott Bessent warned that the ongoing U.S. government shutdown is draining approximately $15 billion from the economy each week. The figure, initially misstated as a daily loss, aligns with a Council of Economic Advisers report analyzing fiscal deadlocks. Shutdowns occur when Congress fails to pass funding measures by the October 1 deadline, freezing critical operations.
Goldman Sachs projects a 0.2% reduction in quarterly GDP growth per shutdown week—a drag equivalent to $15 billion when applied to America's $30.4 trillion economy. The Federal Reserve corroborates these estimates, signaling broader institutional consensus on the shutdown's corrosive impact. "We're cutting into muscle now," Bessent remarked, urging moderate Democrats to break ranks and resolve the impasse.
