TechFlow, Oct. 7 — According to Jinshi Data, Kevin Hassett, Director of the White House National Economic Council, said that the government shutdown is reducing U.S. economic output at a rate of about $15 billion per week. Hassett, citing an internal White House report during a media interview, stated that the shutdown reduces U.S. GDP by approximately 0.1 percentage points each week. If it lasts a month, it would result in about 43,000 additional unemployed people and a $30 billion decline in consumer spending. The Congressional Budget Office previously estimated that the last government shutdown during Trump's first term cost the U.S. economy $11 billion, with around $3 billion in losses being permanent.
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