Latest / US News Today | 2 Min News | The Daily News Now!
Deficit Peak? Treasury Signals Fiscal Shift | US News
Treasury Secretary Scott Bessent signals the deficit may have peaked under Trump, despite July’s record-breaking $432 billion shortfall and a $1.8 trillion fiscal year deficit so far—pushing national debt past $40 trillion. He attributes the spike to accounting shifts, like delayed benefit payments and tariff refunds from court rulings, while hinting at a major fiscal consolidation push led by Trump, Vought, and Vance, potentially saving hundreds of billions. The Treasury’s expanded bond-buyback program cooled long-term yields, but pressure remains—with projected borrowing over $2 trillion…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.