Trumponomics
Scott Bessent’s Uphill Battle Against America’s Debt
On this episode of Trumponomics, we discuss the Treasury secretary’s plan to reduce the deficit and its collision with economic reality.
Scott Bessent, US treasury secretary
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
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Treasury Secretary Scott Bessent has his sights set on reducing the US fiscal deficit to 3% of gross domestic product, whether through cutting government spending (traditionally and constitutionally the province of Congress) or boosting economic growth. President Donald Trump meanwhile has signaled his desire to implement a series of legacy projects, none of which will come cheap.