Scott Bessent cites steady economy, challenges Democrats to make it November issue: 'Bring it on'

WASHINGTON, DC: Treasury Secretary Scott Bessent challenged Democrats to make the economy their central campaign issue for the November midterm elections. He confidently stated, “Bring it on,” asserting that his side is ready to defend the record.

Bessent highlighted a range of indicators he said point to stronger economic conditions. He noted easing prices, lower mortgage rates, and rising consumer confidence after a period of stagnation. He credited the Trump administration's tax relief measures and other financial policies with helping to stabilize the economy and improve household finances.

Scott Bessent projects stronger growth, throws economic challenge to Democrats

In remarks delivered after Donald Trump’s State of the Union address, Bessent focused on the economic gains achieved during the second year of Trump’s second term. He emphasized overall growth, stability, and improvements in key areas such as consumer spending and housing.

Although he avoided directly comparing the current administration with President Joe Biden’s, Bessent’s comments strongly suggested that he believes the economy has strengthened under Trump’s leadership. He highlighted falling prices, lower mortgage rates, and major tax cuts as tangible signs of progress.

Bessent explained, “He has brought down mortgage rates, the large tax cuts…nearly half of incoming tax returns include at least one of his signature policies: No Tax on Tips, No Tax on Overtime, No Tax on Social Security, and deductibility for auto loans.” He added that Americans could expect larger refunds and adjustments to withholding as a result of these policies.

He concluded by directly addressing the opposition, saying, “So, if the Democrats want to run on the economy in November, bring it on because I think we’re going to have a great economy.” Earlier, he also suggested that last year’s fourth quarter would have been widely praised for strong performance if not for a Democratic shutdown.

Trump outlines economic gains in State of the Union

During his nearly two-hour State of the Union address, Trump highlighted what he called a “roaring” economy. He pointed to lower prices on everyday goods, reduced gasoline costs, easing mortgage rates, falling prescription drug prices, and a strong stock market.

Trump described the period as a “golden age” and argued that millions of Americans are seeing tangible benefits. He also criticized Democrats for the Department of Homeland Security shutdown while defending the administration’s record on economic growth.