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Updated · CoinDesk · Sep 15Bessent Says $1.2 Trillion Trump Check Plan Could Avoid Deficit Increase
3 articles · Updated · CoinDesk · Sep 15Summary
- $1.2 trillion in proposed payments could be issued without increasing the federal deficit, Treasury Secretary Scott Bessent told the House on Tuesday.
- Bessent said the Treasury Department is examining President Donald Trump's plan to send $5,000 checks to all U.S. adults.
- The proposal is tied to a GOP midterm-election victory, making the payments a contingent campaign pledge rather than an immediate fiscal program.
Insights
How could a $1.2 trillion cash payout be funded entirely by tariffs without triggering a massive spike in national debt? With the national debt topping $40 trillion, could this unprecedented cash transfer destabilize the fragile bond market even further?