White House Official: Government "Shutdown" Causes U.S. Economy to Lose Approximately $15 Billion Per Week

According to a report by Golden Finance, Kevin Hassett, Director of the White House National Economic Council, stated that the government "shutdown" is reducing U.S. economic output at a rate of approximately $15 billion per week. In an interview with the media, Hassett cited an internal White House report, saying that the "shutdown" would lower the U.S. Gross Domestic Product (GDP) by about 0.1 percentage points per week. If it lasts for a month, it could lead to approximately 43,000 additional job losses and reduce consumer spending by $30 billion. The U.S. Congressional Budget Office previously estimated that during the last government shutdown in President Trump's first term, the U.S. economy lost $11 billion, of which approximately $3 billion was permanently lost.