The ongoing U.S. federal government shutdown is beginning to have tangible effects on the economy, according to Treasury Secretary Scott Bessent. As the shutdown marks its 13th day, he expressed concerns about its serious implications for economic activity.
Impact of Government Shutdown on the Economy
In an interview with Fox Business Network’s “Mornings with Maria,” Bessent emphasized the shutdown’s negative influence on various sectors. He stated, “This is getting serious. It’s starting to affect the real economy,” highlighting the urgency of the situation.
Consequences for Federal Workers and Services
To prioritize payroll for U.S. military personnel, the government has been compelled to delay payments to other federal workers. This includes many employees of cultural institutions like the Smithsonian museums and the National Zoo.
- The government is implementing furloughs for workers in Washington, D.C., and nationwide.
- Federal service disruptions are impacting various sectors, including tourism and education.
Aid and Economic Data
Bessent reiterated that the shutdown is also hindering U.S. aid for farmers. Moreover, he noted that official economic data from the U.S. Treasury will be published once the shutdown concludes.
The ongoing situation raises alarms about the broader economic stability as various sectors begin to feel the strain of prolonged government inactivity. With rising concerns, stakeholders are urged to seek a resolution to restore governmental operations.
