US Government Shutdown: $15 Billion Weekly Loss to the Economy

Economic Impacts of the Federal Government Shutdown

The recent shutdown of the U.S. federal government over the past two weeks has been reported to cause a production loss of up to 15 billion dollars per week to the national economy.

Source of Financial Losses

A Treasury official stated that this alarming financial cost estimate is based on a report prepared by the Council of Economic Advisers at the White House. The government shutdown not only leads to financial losses but also threatens the dynamics of the U.S. economy.

Economic Vitality and Investments

Treasury Secretary Janet Yellen noted in a press conference that the government shutdown has begun to harm the "vital fabric" of the U.S. economy. Yellen also emphasized that investments in areas such as artificial intelligence are sustainable and just getting started, but the federal government's shutdown has increasingly become a significant obstacle.