The stakes have never been higher, but with Bessent at the helm of the Trump economic team, a brighter future is within reach.

Ronald Reagan had his “ Miss Rosy Scenario ” and “ magic asterisks ” to make his deficit numbers seem better than they actually were. Every Republican president since has used (and abused) a famous napkin sketch to pretend that tax cuts always pay for themselves.

Scott Bessent's wise comments on tariffs, taxes, spending, and debt calmed investors and sent markets soaring.

The fund manager will face senators at a confirmation hearing on Thursday

U_S_ Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”

Nominee for U.S. Treasury secretary, Scott Bessent, is expected to declare during his confirmation that Trump will usher in "a new economic golden age."

Scott Bessent, U.S. President-elect Donald Trump's nominee to be secretary of treasury, looks on as he sits near his son Cole, on the day he testifies during a Senate Committee on Finance confirmation hearing on Capitol Hill in Washington, U.S., January 16, 2025. REUTERS/Kevin Lamarque

Scott Bessent to say at his confirmation hearing that Donald Trump has opportunity to unleash “new economic golden age.”

This is a collection of photos chosen by AP photo editors.

The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump.

WASHINGTON (AP) — Senators returned to the Capitol Monday for a late-evening session pushing ahead on President Donald Trump’s Cabinet picks, with voting possible to confirm Sen. Marco Rubio as the nation’s secretary of state on Inauguration Day.