You’d think the person running the Treasury Department in the Trump administration would be required to have a pretty good grasp of basic numbers that involve the U.S. economy, but if that person happened to be Scott Bessent, you’d be sadly mistaken.
Bessent was on Capitol Hill yesterday to testify before the House Ways and Means Committee and began by admitting that his boss, Donald Trump, would “likely” cave on his absurd demands for long-term trade restrictions and tariffs.
However, it was a question from Rep. Don Beyer (D-VA) that caused the most trouble for Bessent.
Beyer noted that the American economy had been incredibly sluggish since Trump imposed his tariffs and that the stock market had done best when “the administration is in retreat from key policy areas.”
“Is this embarrassing?” the congressman inquired.
“It isn’t embarrassing,” Bessent replied. I’m sorry, Congressman, but you seem not to have seen the economic data. The GDP growth has been quite substantial, job growth is solid—”
“GDP growth is half what it was last year, sir,” Beyer reminded the Treasury chief.
“The job growth is solid, and private sector job growth especially,” Bessent insisted.
Beyer: “Job growth is a third what it was all last year, sir.”
“And if you’d like to talk about inflation, would you?” Bessent asked, trying to change the subject.
With clueless simpletons like Scott Bessent running the economy, you can expect a recession by July. No one in this administration has a damn clue when it comes to basic economics.
