Treasury Secretary Scott Bessent said he would put his money on the “United States of America” if he were still running a hedge fund — a testament to the booming environment President Donald Trump’s America First policies have generated.
“You’ve been described as a global macro veteran and you’ve run a hedge fund. In this moment, where would you put your money if you were still running one?” a reporter asked Bessent.
“United States of America,” Bessent said with a smile — and without missing a beat.
His response follows massive victories for the country in the trade arena. Earlier this month, the Treasury Department announced the federal government posted an unexpected budget surplus in June. As Breitbart News reported, this was “fueled by a sharp rise in tariff revenues and higher-than-anticipated tax receipts, marking a notable vindication for President Donald Trump’s economic strategy.”
John Carney, Breitbart News economics editor, continued:
The $27 billion surplus reported Friday by the Treasury Department stood in stark contrast to forecasts for a $50 billion deficit, representing one of the largest upside surprises in recent budget data.
Monthly surpluses typically occur in April, when many Americans file their taxes. Surpluses are also common in January and September. A June surplus is highly unusual.
Much of the improvement stemmed from a 301-percent increase in tariff collections compared to June of last year. Customs duties totaled $27 billion in June, up from $23 billion in May and more than quadruple the $6.7 billion collected a year earlier. For the fiscal year to date, tariff revenues have reached $113 billion, an 86% increase over the same period in 2024.
Bessent’s remarks come on the eve of Breitbart News’s policy discussion with him, taking place on Wednesday, July 30. Breitbart News is partnering with CGCN and the ALFA Institute to put on the event, which begins at 9:30 a.m. Eastern time.
“Treasury Secretary Scott Bessent has demonstrated the first half of this year just how critical he is to implementing all of President Trump’s economic agenda,” Breitbart News Washington bureau chief Matthew Boyle — who will interview Bessent — said in a statement ahead of the event, “from his involvement in negotiations worldwide on trade and peace deals to his role in shaping the One Big Beautiful Bill which is now the law of the land.”
Additionally, the event will feature Breitbart News economic editor John Carney interviewing Treasury Department official Joe Lavorgna.
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