Bessent: US can ‘grow our way’ out of $40 trillion debt

Government debt to hit $1 trillion today

Australia's debt will briefly tip over to a record $1 trillion today.

Aug 19, 2026

Bessent: US can ‘grow our way’ out of $40 trillion debt

Treasury Secretary Scott Bessent on Thursday said the U.S. can “grow” its way out of the $40 trillion national debt, a milestone reached Wednesday. “Well, I mean, look Sara, there’s nothing magic about the $40 trillion number, and we can grow our way out of that,” Bessent told “Squawk on the Street” co-host Sara Eisen…

Aug 20, 2026

Vance says Bessent has ‘discreet’ plan to address $40 trillion national debt

Vice President JD Vance said Treasury Secretary Scott Bessent has a plan to address the nation’s roughly $40 trillion debt, arguing the administration can grow the economy faster than the debt accumulates. “[Bessent] has had a very discreet plan, of course, supported by the president of the United States, to get the United States to […]

Aug 21, 2026