Source: Fox News
“Treasury Secretary Scott Bessent said Tuesday that the Trump administration is weighing plans to apply part of the tariff revenue toward lowering the national debt. ‘I think at a point we’re going to be able to do it,’ Bessent said during an interview with CNBC, adding that he and President Donald Trump were ‘laser-focused on paying down the debt.’ ‘I think that we’re going to bring down the deficit-to-GDP, we will start paying down debt, and then at a point that can be used as an offset for the American people,’ he said. The nation’s debt, which is the amount of money the U.S. [regime] owes its creditors, is nearing $37.2 trillion as of Aug. 18, according to the Treasury Department. The staggering figure has intensified the long-standing debate in Washington over government spending, taxation and efforts to rein in the ballooning deficit.” (08/19/25)