EconomyGovernment

Government Shutdown Costing U.S. Economy $15 Billion Daily, Treasury Secretary Warns

The ongoing federal government shutdown is reportedly costing the U.S. economy approximately $15 billion per day in lost output, according to Treasury Secretary Scott Bessent. The Treasury chief warned the shutdown is beginning to “cut into muscle” of the economy despite what he described as sustainable investment growth in areas including artificial intelligence.

Shutdown’s Economic Impact Reaches $15 Billion Daily

The two-week-old federal government shutdown is costing the U.S. economy approximately $15 billion daily in lost output, Treasury Secretary Scott Bessent stated Wednesday. According to reports from Washington, Bessent put this specific estimate on the economic toll while urging Democratic lawmakers to “be heroes” and side with Republicans to end the impasse.

GovernmentPolicy

Trump Administration Implements New Federal Hiring Restrictions After Freeze Expires

The Trump administration has replaced its federal hiring freeze with new restrictions requiring political appointee approval for government positions. Critics suggest the changes could politicize the federal workforce while the administration claims they ensure accountability in hiring practices.

New Federal Hiring Restrictions Implemented

President Donald Trump has issued a new executive order replacing the expired federal hiring freeze with permanent restrictions that require political appointee approval for most government hiring positions. According to reports, the order came into effect Wednesday as the administration’s initial hiring freeze, implemented on January 20, reached its expiration date.

GovernmentStartups

Pentagon Adopts Silicon Valley’s ‘Fail Fast’ Approach to Modernize Defense Operations

The Department of Defense is undergoing a Silicon Valley-style transformation, embracing “fail fast” principles and artificial intelligence to streamline its trillion-dollar operations. Former Pentagon officials reveal how AI and new mindsets are revolutionizing military intelligence and procurement processes, with technology from Project Maven being deployed in recent conflicts.

Silicon Valley Mentality Reshapes Pentagon Operations

The Pentagon is undergoing a significant transformation, adopting Silicon Valley’s famous “fail fast” approach to modernize its massive defense operations, according to reports from the Fortune Most Powerful Women conference. The Department of Defense, previously known as the Department of War, is implementing artificial intelligence systems that are fundamentally changing how the United States approaches global conflicts, sources indicate.

GovernmentPolicy

UK Government Releases Witness Statements in Dropped China Espionage Case

The UK government has published key witness statements from the collapsed China spy case, revealing assessments of Beijing’s “highly capable” intelligence operations. Documents show both Conservative and Labour administrations maintained commitment to positive economic relations with China despite security concerns.

Security Assessments and Economic Priorities in Dropped Spy Case

The UK government has released witness statements from the collapsed espionage case involving two men accused of spying for China, revealing contrasting assessments of Beijing’s intelligence capabilities alongside continued economic engagement policies. According to the published documents, sources described Beijing’s spy agency as “highly capable” and indicated it can “conduct large-scale espionage operations against the United Kingdom.”

GovernmentPolicy

Federal Judge Blocks Trump Administration From Firing Federal Workers During Shutdown

A federal judge has issued a temporary restraining order preventing the Trump administration from firing federal workers during the ongoing government shutdown. The ruling comes after reduction-in-force notifications were sent to over 4,000 federal employees. Judge Susan Yvonne Illston stated the administration’s actions appeared “contrary to the laws.”

Federal Judge Issues Temporary Restraining Order Against Trump Administration

A federal judge has temporarily blocked the Trump administration from firing federal workers during the ongoing government shutdown, according to reports from the U.S. Capitol in Washington, D.C. The ruling from U.S. District Court Judge Susan Yvonne Illston came Wednesday, just five days after the administration issued reduction-in-force notifications to more than 4,000 federal workers, sources indicate.