Trump economists say the most unbelievable things

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DC Bureau: Canada Tariffs Take Effect

DC Bureau: Canada Tariffs Take Effect

Trump administration economists’ latest debt-reducing mantra is a throwback from 15 years ago. It might have worked back then. Today, the suggestion is nothing more than a diversion tactic to make voters think the administration has a realistic plan for reducing the government’s debt.

Treasury Secretary Scott Bessent recently told Sara Eisen of CNBC, “There’s nothing magic about the $40 trillion number, and we can grow our way out of that.” He made a similar claim to reporters before the Group of 20 finance ministers meeting in North Carolina: “The world is awash in debt and the only way for us to get out of this is to grow our way out of this.”

Vice President JD Vance has been parroting Bessent’s position. Carl Higbie of Newsmax asked the vice president if there was “anything on the horizon offsetting” the $40 trillion federal debt. Vance replied that Bessent’s idea “is to get the economy to a point where it is growing faster than our debt.” And then he asserts, “If you look, we’re on track.”

Except no, we aren’t.

Does the Government Accountability Office support the Bessent-Vance claim? According to its June report, debt held by the public “is projected to grow........

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