Part 6/7:
Critics of the Congressional Budget Office (CBO) estimates, such as Treasury Secretary Scott Bessent, assert that projections of economic growth could be overly conservative. Bessent emphasizes the potential for more robust GDP growth driven by pro-growth policies, calling into question the dire financial forecasts some officials are circulating. He argues that the current deficit could be lower than last year’s, with aspirations to reduce it further in the following years.
Despite these optimistic views from the Treasury, skepticism remains prevalent among fiscal hawks within Congress. There is tangible concern regarding recent market behaviors and public sentiment, as exemplified by high-profile individuals like Elon Musk, which adds pressure on lawmakers to consider deeper spending cuts.