Kent Smetters, director of the Penn Wharton Budget Model (PWBM), said President Donald Trump and Treasury Secretary Scott Bessent’s growth-focused strategy cannot by itself resolve the nation’s mounting fiscal challenges as U.S. debt surpasses $40 trillion.
Trump Backs Growth to Cut Debt
Last week, Trump argued that stronger economic growth could help the U.S. manage its massive debt burden.
He said, "The way you take care of debt is with growth, and we have tremendous growth. We’ve never had growth like we have right now."
Bessent similarly said, "There’s nothing magic about the 40-trillion number," adding that the U.S. can "grow our way out of that."
