Scott Bessent clashes with Democrats over tax policy and debt concerns

Scott Bessent criticized Democrats for their spending policies, estimating the U.S. Deficit-to-GDP ratio will be between 6.5% and 6.7% in 2025. He dismissed fiscal critiques, attributing budget troubles primarily to unchecked discretionary spending.

Bessent reiterated the goals of his 3-3-3 economic plan, which targets a 3% GDP growth rate and aims to increase oil production significantly. He maintains that his strategy will stabilize the economy despite Democratic policies exacerbating the national debt.