Scott Bessent Clashes with Democrats over Budget Concerns

During a House Ways and Means Committee hearing, US Treasury Secretary Scott Bessent clashed with Democratic representatives regarding the escalating national deficit. Bessent attributed the significant increase in government spending to recent Democratic policies rather than Republican tax cuts. He asserted that the 2025 fiscal year’s deficit is projected between 6.5% and 6.7% of GDP, a figure exceeding previous years. While acknowledging Republicans’ role in enacting tax cuts, Bessent emphasized the urgent need to address rising discretionary spending as a primary driver of the financial burden.