Treasury secretary Scott Bessent insists US will ‘never default’ on its debt

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Treasury Secretary Scott Besent emphasizes that the United States will never be default on its debt because he tried to assure Wall Street concern over the country’s public money.

“America is the United States never default, it will never happen,” Besent told CBS In the face of the nation Sunday. “We’re on the alert track and we will never hit the wall.”

Investing Gites on US Federal Debt’s size by calling for Congress to press Congress Its “big beautiful” budget billWhich is expected to increase the federal deficit.

Besent JP Morgan Chase’s Chief Executive Jamie Dimon has dismissed anxiety Friday The US bond market will “crack” the country’s growing debt weight.

“I have known Jamie for a long time and he made this national prediction for his entire career. Fortunately none of them came true,” he said.

The Congressional Budget Office, the government’s financial surveillance, warned that without the new budget law, the US Debt will be higher than the top of the 1940s in the coming years as part of the GDP. Last month, the rating agency snatched Moody’s United States A debt rating of tripleThe

A responsible federal budget committee warned that, as in writing, Trump’s bill Debt will add about $ 3tn on Over the next decade.

Investors are also concerned that the issue of increasing the debt ceiling – which will increase $ 4TN in accordance with the proposed law – is now focused on the Congressional Rangling and the Inference of the Republican Party.

The bill has passed the House of Representatives last month and is about to be controversial by the Senate. However, some members of the higher chamber have expressed concern to both the high expenditure level and the increase of the debt limit.

Elon Kasturi, who is this week Resign from his role In a CBS interview aired on Sunday in the Trump administration, he said that he was “disappointed” with “lots of expense bills”, which he said that he had tasked the expenditure of his so -called government skills division.

The Trump administration emphasized that the bill would not increase the deficit and these estimates failed to take into account economic growth.

“I’m going to reduce the deficit it is going to be,” Mike Johnson, Speaker of the House of Representative, told NBC Meet the press Sunday. “We are raising the extraordinary economic growth here.”

Besent said that many estimates were not responsible for “sufficient” income from Trump’s new import duty, which could add trillion dollars to government revenue.

“This year deficit is about to be less than last year’s deficit and it will be less in two years,” said Besent.

Trump’s tariff plans created an obstacle last week when the court ruled that the authority did not depend on the authority he had relied on to impose most of his tariffs. The White House won a To stay temporary Against the order.

Commerce Secretary Howard Lutnik said that if the President was prevented from imposing tariffs under some powers, he would find other ways to do so.

“Assure, tariffs are not going away,” Lutnik told Fox News Sunday.

“He has many more authorities that even in strange and unusual situations where it was taken away, we just brought the other or the other or the other.”