Copyright Benzinga
Treasury Secretary Scott Bessent on Wednesday accused Democrats of engineering the record U.S. government shutdown to damage President Donald Trump politically, arguing the fight was "never about healthcare" and predicting the economy will roar back once Washington reopens for business. Bessent Says Shutdown Aimed At Hurting Trump Agenda In a post on X, Bessent wrote, "The shutdown was never about healthcare for Democrats—it was about stopping President Trump's agenda at any cost. And they were willing to waste tens of billions of taxpayer dollars to do it. Meanwhile, the economy is thriving with 3.8% growth, and we're on track to accelerate even further into 2026." Speaking on ‘Fox & Friends’ on Wednesday, Bessent said Democrats turned to a shutdown after failing to block Trump in court or through critical media coverage. "They’ve taken the mask off," he said. He argued the economy was "in a great place with 3.8% growth last quarter" and that Democrats "caused a hiccup here," but predicted a "blockbuster year" for America once the government reopens. See Also: Trump’s Approval Rating Hits New Low: Voters Blame Republican Party For Government Shutdown Bessent Floats Tariff-Funded Rebates For US Families Bessent also addressed speculation that Trump could use tariff revenues to fund direct relief. "The president’s talking about a $2,000 rebate, and that would be for families making less than, say, $100,000," he said, noting the idea remains under discussion but stressing that other tax and rebate measures are already designed to put more money back in Americans' pockets. He further teased "substantial announcements over the next couple days for things we don't grow here in the U.S.," saying the administration is targeting lower prices on imports such as coffee and bananas. Democrats' Shutdown Rationale And Economic Damage Estimates Democrats, by contrast, have framed the shutdown as a last-ditch effort to preserve Affordable Care Act subsidies and block Republican health and tax changes. The longest shutdown in U.S. history has officially ended, but it has had a significant impact on the economy. The Congressional Budget Office, in an estimate released on October 29, revealed that a six-week closure would cut fourth-quarter growth by about 1.5 percentage points and result in roughly $11 billion in permanently lost economic activity, even as reopening could add about 2.2 percentage points to growth early next year. Read Next: Trump Hosts Wall Street CEOs For Power Dinner: Jamie Dimon, Larry Fink, David Solomon On Guestlist Photo Courtesy: DT phots1 / Shutterstock.com
