Scott Bessent on the national debt: ‘There’s nothing magic about the $40 trillion number’

U.S. national debt just topped $40 trillion, but Treasury Secretary Scott Bessent told markets not to panic, arguing the economy can "grow our way out of that."
The Treasury will at least double buybacks of longer-term Treasurys to shore up a thin, volatile bond market—moves that briefly pushed yields down.
Bessent says the deficit picture is rosier than it looks (citing one‑time items and big investment incentives), teases upcoming fiscal-consolidation plans, and notes the U.S. now spends over $1 trillion a year on interest—more than on defense.