Sep 9, 2026
Treasury Secretary Scott Bessent said Tuesday that the United States could reduce its debt burden through sustained economic growth of 3% annually. Speaking at a Q&A event at SMU Cox School of Business in Dallas, Bessent argued that the country does not face a revenue shortfall but rather an issue of excessive spending. He suggested that combining spending restraint with 3% growth would allow the nation to grow out of its debt.
The national debt recently surpassed $40 trillion, and the fiscal deficit for the current fiscal year, ending Sept. 30, is projected to exceed $2 trillion. Bessent expressed confidence that the underlying economy remains strong and is reaccelerating, pointing…