US economy loses 15 billion USD/day due to government shutdown

VTV.vn - The US government shutdown has begun to affect core parts of the economy, as well as becoming an obstacle to the wave of investment into this country.

The current partial government shutdown due to a budget impasse in the US Congress is costing the world's number one economy up to $15 billion a day, according to US Treasury Secretary Scott Bessent in a recent statement.

On the sidelines of the International Monetary Fund (IMF) and World Bank (WB) Fall Meetings in Washington DC, Mr. Bessent said that the US government shutdown has begun to affect the core parts of the economy, as well as becoming a hindrance to the wave of investment in the US in many strategic areas such as AI. However, the US Treasury Secretary is also optimistic that the incentives in the Government's tax law, along with the imposition of new tariffs, will contribute to continuing to maintain the wave of investment and promote the growth of this economy.

Since October 1, due to the US government's budget suspension, air traffic controllers in the US have been forced to work without pay.

US aviation industry in turmoil due to government shutdown

One of the industries that has been most affected by the US government shutdown is air transport. Over the past two weeks, thousands of flights in the US have been severely affected due to a shortage of air traffic controllers.

Since October 1, due to the US government’s budget cutoff, air traffic controllers in the US have been forced to work without pay. As a result, many have chosen not to show up for work or call in sick, putting even more pressure on an already strained system. Last week, US officials said that about 10% of air traffic controllers have not shown up for work, while the remaining ones face many worries.

"Air traffic control is inherently a stressful job. It requires a high level of concentration every day. We have to be 100% accurate and on time. Not knowing exactly where you're going to get the money to feed your kids, pay for gas or pay your mortgage adds even more pressure to an already stressful job. It's really tough. The longer this goes on, the more your savings will run out," said Peter Lefevre, an air traffic controller.

Staffing shortages have caused delays at many airports, including Austin, Texas, and Nashville, Tennessee. At some other locations, staffing has been reduced by as much as 50%, causing many flights to be delayed or diverted. Aviation safety experts also worry about the increased risk of accidents.

"Air traffic controllers are controlling more than 45,000 flights, with three million passengers and tons of cargo," said Nick Daniels, president of the National Air Traffic Controllers Association. "But now their concern is when they will get paid again. Air traffic controllers need to try to eliminate all risks to ensure flights are safe. But the problem is, now they have to worry about whether, after work today, they will have to drive Uber tonight to earn money to fill up their car or buy food for their family."

Last week, Delta Air Lines, one of the three largest US airlines and the first to report earnings, said it expected the situation to worsen if the shutdown continued, although the impact on business operations was still negligible due to the low season for travel.

In 2018, a 35-day government shutdown grounded flights, disrupted air travel across the United States, and cost airlines tens of millions of dollars.

Source: https://vtv.vn/kinh-te-my-thiet-hai-15-ty-usd-ngay-do-chinh-phu-dong-cua-100251017051525929.htm