Scott Bessent's Commitment to US Financial Stability

Scott Bessent, nominated by Donald Trump for the position of Treasury Secretary, reassured lawmakers on Thursday that the United States would not default on its debt upon his confirmation. This statement came in response to inquiries about the nation's financial stability and the handling of the national debt.

Debate Over the Debt Limit

When questioned by Senator Elizabeth Warren about the possibility of eliminating the debt limit, Bessent expressed his support for the president-elect's stance. He indicated his willingness to advocate for the removal of the debt ceiling once in office, aligning with the administration's financial strategies.

Criticism from Senator Warren

Senator Elizabeth Warren did not hold back in her criticism of the House Republican's plan to increase the debt ceiling by $1.5 trillion in 2025. She accused them of leveraging this plan to favor billionaires with tax cuts, a move she argued would significantly escalate the national debt by over $1 trillion in the next four years.