Bulgaria News
Treasury Secretary Scott Bessent wildly insisted on Tuesday that President Donald Trump’s proposed $5,000 checks to Americans could be sent out without adding to the national debt.
The president first floated the plan during last week’s Republican midterm convention in Dallas, Texas, promising to send the money if the GOP retains control of Congress in the midterms. He’s said he doesn’t think the checks will require congressional approval and has pointed to tariff revenue and more than $20 trillion in claimed U.S. investment to justify the proposal.
Those figures have been disputed. CNN fact-checker Daniel Dale noted tariff revenue falls far short of the roughly $1.3 trillion estimated cost of the checks, while calling Trump’s $20 trillion investment figure “fiction.”
Numerous elected officials and commentators on both sides of the political aisle have also expressed skepticism about the president’s claim he could sidestep Congress and overcome the Constitution’s Appropriations Clause.
Bessent’s made his comments during a House Financial Services Committee hearing.
Rep. Juan Vargas (D-CA) asked the Treasury Secretary on Tuesday, “Is that a good idea”
“Uh, yes,” Bessent responded.
“Why?” Vargas further inquired.
“I think it’s a good idea for the American people to keep more of their money,” said Bessent.
“Does that hurt the deficit or the debt?” the California congressman wondered.
“I believe that there are ways to do it without increasing the debt or deficit,” the Treasury Secretary claimed.
“Why don’t you go ahead and tell us then?” urged Vargas. “Because it doesn’t seem like that’s been the case so far.”
“Uh, that is in process right now,” Bessent stalled.
“So it’s somehow mysteriously or magically going to occur? You can’t tell us?” pressed Vargas.
“I’m not ready to discuss it at present, but at Treasury, we’ve been working on it for quite a while,” concluded Bessent.
In August, the U.S. national debt officially crossed the $40 trillion mark.
Watch above on YouTube.
The post Bessent Straight Up Claims Trump’s $5K Checks Can Go Out Without Adding to the Debt first appeared on Mediaite.
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