Treasury Secretary Scott Bessent warned Monday that the United States cannot afford another government shutdown, saying the economic toll would run into the billions of dollars. His remarks come as lawmakers face a familiar fiscal standoff, though Bessent did not detail which policies he supports to avert a lapse in funding.
Economic Toll of a Shutdown
Bessent cited billions in economic costs from a potential shutdown, though he did not provide a specific figure. Past shutdowns have disrupted federal services, delayed paychecks for hundreds of thousands of workers, and slowed economic growth. The Treasury secretary's warning underscores the broad impact a funding gap would have on the economy, from reduced consumer spending to uncertainty in financial markets.
Calls for Fiscal Responsibility
Bessent continues to advocate for unspecified policies likely related to fiscal responsibility. He did not elaborate on what those policies might entail, but his comments align with longstanding concerns about the national debt and deficit spending. The Treasury secretary's push for fiscal discipline comes as Congress debates spending bills and the debt ceiling.
The warning is the latest in a series of statements from administration officials urging lawmakers to avoid a shutdown. Bessent's remarks did not include a specific deadline or threat, but they highlight the stakes as negotiations continue.
