US Treasury Secretary Scott Bessent said that the federal government shutdown could cost the country’s economy up to $15 billion a day.
Bessent spoke in Washington at the Investing in America forum organized by CNBC.
The minister, noting that the US President’s policy Donald Trump is encouraging investment in America, said: “The only thing holding us back here is the government shutdown.”
He stressed the need to reopen the government and called on Democrats, whom he blamed for the government shutdown, to reopen it.
According to him, despite the closure, the army is being paid, Bessent explained that the Pentagon is able to pay wages.
When asked whether the shutdown was hurting the economy, Bessent responded, “I’ve seen numbers that suggest it’s starting to hurt the economy, maybe up to $15 billion a day.”
Scott Bessent also noted that the shutdown could impact the labor market, and that they’re seeing a decline in confidence from very strong small businesses. businesses.
The US federal government shut down on October 1 due to the fact that Congress was unable to approve a temporary budget before the start of the new fiscal year.