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Scott Bessent | All-In DC

Wed, 19 Mar 2025 03:34:00 +0000

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Scott Bessent Too Early 00:22:39 economypolitics

By 2028, the Trump administration will bring the U.S. federal deficit down to roughly 3% of GDP (the long-term historical average), from the current elevated level.

“We're going to set a goal by 2028. We want to get back to the long-term average... about 3% deficit to GDP.” View on YouTube
Explanation

Bessent set a goal of reaching ~3% deficit-to-GDP by 2028, the long-term historical average. As of August 2026, the target year has not arrived, and the federal deficit remains well above 3% of GDP (roughly 5-6%) despite the One Big Beautiful Bill Act's tax cuts and some tariff revenue. Too early to call right or wrong.

Scott Bessent Right 01:08:24 economypolitics

Within about 10 days of this interview (mid-to-late March 2025), the Trump administration will announce an "affordability czar" with supply-chain experience.

“So we're actually we should probably be announcing it in about 10 days. We're going to have an affordability czar, but it's going to be someone with a lot of experience in supply chains.” View on YouTube
Explanation

Bessent announced the creation of an 'affordability czar' role/council on CBS' Face the Nation in early March 2025, closely matching his ~10-day estimate from this interview.