US Treasury secretary Scott Bessent has insisted that the world’s largest economy will “never” default on its debt as he sought to quell concerns about the state of the country’s public finances.
Speaking on CBS' Face The Nation programme, Bessent said "the United States of America is never going to default. That is never going to happen…and we will never hit the wall". He was questioned on whether US President Donald Trump's ‘big beautiful' tax bill could cause the debt limit to be increased or suspended and consequently result in a close shave with default. Fears mount over US debt path as tax cuts inch closer The bill has so far made its way through the House of Representatives and is set for a showdown in the Senate as the Democrats prepare to comb through it. Bes...
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