Sri Lanka, Oct. 16 -- The two-week-old federal government shutdown may cost the U.S. economy as much as $15 billion a week in lost output, a Treasury official said late on Wednesday, correcting an earlier statement from Treasury Secretary Scott Bessent that put the cost at up to $15 billion per day.

Bessent used the incorrect estimate in two separate appearances earlier on Wednesday, while urging Democrats to "be heroes" and side with Republicans to end it.

A Treasury official said the cost estimate was based on a report by the White House Council of Economic Advisers.

Bessent told a news conference that the shutdown was starting to "cut into muscle" of the U.S. economy.

The wave of investment into the U.S. economy, including into art...