Government shutdown could cost US economy billions of dollars a week, analysts says
Government shutdown could cost US economy billions of dollars a week, analysts says
Government shutdown could cost US economy billions of dollars a week, analysts say
According to one report, each week of shutdown could cost up to $7bn, with another suggesting a $15bn loss in GDP
Senior officials inside Donald Trump’s administration have acknowledged the federal government shutdown, without an end in sight, could hurt the US economy. The damage could be worth billions of dollars each week, according to analysts.
“This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Scott Bessent, the US treasury secretary, told the CNBC financial news network. “We could see a hit to the GDP, a hit to growth and a hit to working America.”
Prolonged failure to reach a deal would be costly.
