Bessent and Fox News sat down for an extended discussion that aired on Tuesday night and covered DOGE and various subjects.
” So that’s a very good start”, Bessent said of the cuts, adding that DOGE’s work may later lead to” some percent of GDP that we are saving”.
Elon Musk, the group’s leader, claimed last week that it could” cut the budget deficit from$ 2 trillion to one” and that there would be no inflation if the cuts were made.
” And if the government is not borrowing as little, that indicates that interest costs will decrease. So everyone’s loan, their car pay, their credit card bills, any — their student debt, their monthly bills fall. That’s a great situation for the regular American”, he said.
Bessent also said that people “don’t have to be concerned” about the DOGE player’s attempt at accessing tax information. He said one person at the , IRS  , “is looking at an archaic IT program, that’s all they’re doing”.
Bessent said two laborers had “read-only entry” to the payment systems, exposure that doesn’t allow them to make changes. ” There are very rigid scaffolding around them”, he said.
The initiatives have alarmed Parliamentary Democrats.
A email sent to Bessent and authored by Sens. Sens.  , Elizabeth Warren (D-MA ),  , Ron Wyden (D-OR ),  , and , Jack Reed (D-RI )  , dated Thursday said. ” You need to deliver a clear, full, and public accounting of who accessed the methods, what they were doing, and why they were doing it”.
Bessent responded to some of the condemnation by saying on Tuesday that” this kind of fearmongering doesn’t support person.”
” It tells me that people are worried that they’re part of the waste, fraud, and abuse”, he added.
The Treasury Secretary also criticized President Donald Trump’s subsequent foreign policy decisions, citing the possibility of his Ukraine strategy winning the Nobel Peace Prize. Last month, Bessent met with Ukrainian President Volodymyr Zelensky in the middle of peace negotiations with Russia, which included the U.S.
Trump said on Tuesday,” I think I have the power to end the battle”.
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The Treasury Department is actively looking into the idea of eliminating the quarter, according to Bessent, and this issue was also raised during the meeting.
” President Trump wants to make the coin dead, that’s part of the price benefits. Prices about three percent to make one cent, yet in Washington that mathematics doesn’t work”, he said. ” It’s going soon”.
