Reported about 8 hours ago
Donald Trump's proposed plan for reducing federal deficits, led by his Treasury secretary pick Scott Bessent, aims to bring deficits down to levels seen in 2015 during Barack Obama's presidency. Bessent's strategy includes a target of reducing deficits to 3% of GDP, increasing annual growth to 3%, and boosting domestic oil production. However, achieving these goals may prove difficult due to entrenched federal spending programs. Critics argue that significant reforms are necessary, particularly addressing the rising costs of Social Security and Medicare, which Trump, like many politicians, is hesitant to tackle.
Source: YAHOO