Day 15 of US Government Shutdown: Beshent Issues Another Warning: US Economy is Bearing the Bitter Fruit!

US Treasury Secretary Beshent said on Wednesday that the ongoing two-week federal government shutdown is causing approximately $15 billion in daily output losses to the US economy. He also urged Democrats to stand with Republicans to end the government shutdown.

Beshent stated that the investment wave in the US economy (including artificial intelligence) is sustainable and has only just begun, but the federal government shutdown is increasingly becoming an obstacle.

"Demand was suppressed, but President Trump's policies have unleashed this prosperity," Beshent said at an event. The only thing holding us back is the government shutdown.

He also said that the incentives in the Republican tax law and Trump's tariff measures would sustain the investment boom and drive continued economic growth.

"I think we might be in a period similar to the emergence of railroads in the late 19th century, or like the internet and office technology boom in the 1990s," Beshent said.

It should be noted that although Beshent used the figure of $15 billion per day in his speech on Wednesday, a US Treasury official later stated that Beshent was actually referring to a report from the US Council of Economic Advisers, which indicated that the government shutdown "could cause approximately $15 billion in economic losses per week."

Kevin Hassett, Director of the US White House National Economic Council, also said earlier this month that the government "shutdown" is reducing US economic output at a rate of about $15 billion per week.

This is not the first time Beshent has acknowledged that the government shutdown is affecting the US economy. On the 13th local time, Beshent said in an interview that the US real economy has already been impacted by the "shutdown."

Just as Beshent made these remarks, on October 15 local time, the US Senate again failed to advance the Republican temporary funding bill with a vote of 51 to 44. It is reported that 60 votes are needed to advance this bill, which would provide funding for the government until the end of November.