Trump’s Treasury Pick, Scott Bessent, Joins Other Nominees With Game, Set, Match Over Senate Democrats

Scott Bessent joins the other Trump nominees with game, set, and match over the Democrats.Democratic senators threw their best stuff at Pete Hegseth and got nowhere.Then they tried to bully Pam Bondi and she bullied them right back — scoring knockdowns left and right. In general, the tired, old, left-wing Democrats have gotten nowhere with their cheap shot attacks during cabinet confirmations.They’re afraid to talk policy because President Biden’s progressive socialism is such a dismal failure.They’re still in denial about their crushing loss on November 5.Many of them are just slinking away into the night.At this point it sure looks like all of President Trump’s cabinet noms will be confirmed by the new and energetic Republican senators. Treasury nominee Scott Bessent was so good today in his hearing before the Senate Finance Committee, that Democratic members started filing out of the room way before the hearing was over. Probably because they didn’t have any dirt, couldn’t make any personal attacks, and they don’t know anything about economics in the first place.Mr. Bessent is an economic wiz, though.Trump called Mr. Bessent’s appearance a “masterful performance.”Of course it was.Mr. Bessent is a free-market supply-sider who put together a storied performance as a top flight investment manager for many years.He’s an economic growth guy, a limited government guy, and a King Dollar guy.From his testimony today: “critically, we must ensure that the U.S. dollar remains the world’s reserve currency.”Mr. Bessent read the riot act on tax cuts, saying “if we do not renew and extend, then we will be facing an economic calamity. And as always with financial instability that falls on the middle and working class people, we will see a gigantic middle class tax increase.” The Treasury nominee added: “We will see the child tax credit halved. We will see the deductions halved. So it will be what we call an economics that has the potential for a sudden stop.”Mr. Bessent also understands that Trump’s tariff strategy will not be inflationary. He has said that only excess money created by the Fed or overspending by the Federal Budget will cause long-term inflation. Not tariffs.But on the question of tariffs in his hearing, he said: “The American people, should think about tariffs and three ways under the Trump administration. One will be for remedying unfair trade practices either by industry or country.”Second, he added, “may be for a more generalized tariff. As a revenue raiser for the federal budget. And three, President Trump I think has, added a third use of tariffs,” which, he explained, “can be used for negotiations”He also added that he intends to work hand in glove with Russ Vought at the Office of Management and Budget and the DOGE brothers to curb federal spending profligacy and stop the regulatory state. As Mr. Bessent put it: “We do not have a revenue problem in the United States of America, we have a spending problem … This spending is out of control.”And also Mr. Bessent understands the need for energy dominance and unlimited electricity to power the new economy and has always subscribed to Trump’s “drill, baby, drill” mantra. And here’s how he answered a question today: “China will build a hundred new coal plants this year. There is not a clean energy race. There is an energy race.”Indeed an energy race. In his opening statement, Mr. Bessent said that Trump was the first President in modern times to stand up for working Americans.Plus he highlighted the need to end the Biden affordability crisis — and that inflation is one of the great killers for working families.And he also said “I believe that President Trump has a generational opportunity to unleash a new economic golden age that will create more jobs, wealth, and prosperity for all Americans.”As I said: game, set, match.From Mr. Kudlow’s broadcast on Fox Business Network.

Trump’s Treasury Pick, Scott Bessent, Joins Other Nominees With Game, Set, Match Over Senate Democrats

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