Imagine waking up each day, not knowing if your paycheck will come because the government has shut its doors. That’s the grim reality for countless Americans as senior officials in Donald Trump’s administration admit that the ongoing federal government shutdown could unleash chaos on the U.S. economy, costing us billions each week.

U.S. Treasury Secretary Scott Bessent pulled no punches when he spoke to CNBC, declaring, “This isn’t the way to have a discussion, shutting down the government and lowering the GDP.” He highlighted that the longer this stalemate lingers, the more dire the consequences for both economic growth and ordinary working Americans.

Analysts at EY Parthenon paint a bleak picture, estimating that each week of shutdown could slice off 0.1 percentage points from GDP growth in the fourth quarter, translating to a staggering $7 billion hit to the economy. This loss isn’t just a number; it translates to real pain for furloughed workers, delayed government purchases, and a plummet in consumer demand.

The situation intensifies further when looking at a memo from the White House's Council of Economic Advisers, which reveals even graver predictions. They estimate that if the shutdown persists, we could face a $15 billion loss in GDP every week. The implications are chilling: a monthlong shutdown could potentially add 43,000 jobless workers to the unemployment line and reduce consumer spending by an eye-watering $30 billion.

“This shutdown isn’t just a financial hiccup; it’s a full-blown crisis,” warns the memo, noting that the ramifications extend far beyond the economic realm to disrupt vital services such as social security, air travel, and nutritional support programs for mothers and infants. And as the shutdown stretches on, the fallout will only compound.

While some damage might be mitigated through backpay for those furloughed once the government reopens, the long-term impacts could still stifle recovery efforts. Analysts caution that financial markets and private sector confidence would also take a hit, further complicating an already precarious economic landscape.

Looking back, the last government shutdown—a 35-day ordeal from late 2018 to early 2019—was estimated to have cost the economy at least $11 billion, with a permanent loss of $3 billion. And that tally didn’t even account for the indirect repercussions, like halting federal permits and diminished access to loans.