Treasury Secretary’s Investment Preference
Treasury Secretary Scott Bescent expressed that if he were managing a hedge fund, he would invest in the “USA.” This was revealed during a conversation with a reporter who inquired about where he would allocate funds currently.
“United States,” Bescent replied with a hint of enthusiasm.
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This statement comes in the wake of a significant economic win for the nation. Recently, the Treasury Department revealed that the federal government recorded an unexpected budget surplus in June, attributed to a notable increase in tariff revenue and better-than-anticipated tax receipts, aligning with President Donald Trump’s economic strategy.
As noted by John Kearney, the Economics Editor at Breitbart News:
The reported surplus of $27 billion stands in stark contrast to the $50 billion deficit that was expected, marking a significant improvement in recent budget figures.
Surpluses typically arise in April when tax filings peak, and they also tend to occur in January and September. A surplus in June is quite rare.
The surge in revenue is largely due to a 301% rise in tariff collections compared to the previous year. Tariffs brought in $27 billion in June, up from $23 billion in May and significantly higher than the $6.7 billion from last year. For the fiscal year, tariff income reached $113 billion, an 86% increase from the same timeframe in 2024.
Bessent made these comments on Wednesday, July 30th, just before a policy discussion scheduled at Breitbart News, which will commence at 9:30 am ET in collaboration with CGCN and the Alfa Institute.
As stated by Matthew Boyle, Washington Director at Breitbart News, “Treasury Secretary Scott Bescent has highlighted the necessity of implementing President Trump’s economic agenda in the first half of this year.” He noted Bessent’s significant role in trade and peace negotiations globally.
Furthermore, at the upcoming event, John Carney will interview Joe Lavorgna, a Treasury official.
