Critical Impact: U.S. Government Shutdown Hits the Economy Hard

The ongoing U.S. federal government shutdown is beginning to take a toll on the nation's economy, according to U.S. Treasury Secretary Scott Bessent. Speaking on the 13th day of the closure, Bessent highlighted the emerging seriousness of the situation.

In an interview with Fox Business Network's 'Mornings with Maria,' Bessent explained that in order to ensure military personnel receive their paychecks, the government has had to defer payments to other federal workers and services, impacting institutions like the Smithsonian museums and the National Zoo.

The secretary also expressed concern over the shutdown's effect on U.S. aid for farmers and noted that comprehensive economic data from the Treasury will be unavailable until the shutdown concludes.

(With inputs from agencies.)