Fiscal hawks skeptical of Bessent's plan to 'grow our way out' of $40 trillion debt

Fiscal hawks skeptical of Bessent’s claim that US can ‘grow our way out’ of $40 trillion debt

Published August 27, 2026 6:00am ET Updated August 27, 2026 8:56am ET

Fiscal hawks are skeptical of Treasury Secretary Scott Bessent’s claim that the United States can grow its way out of its $40 trillion of debt, absent other reforms.

Last week, the U.S. national debt hit $40 trillion, sending yields on long-term Treasury securities to multiyear highs. Bessent said in an interview that there is “nothing magic” about the $40 trillion milestone and that the government “can grow our way out of that.”