Bessent expresses confidence that tariff income will match or exceed last year's level, attributing most deficit increase to tariffs.
“I am confident that we will be back to a, the same level, if not higher, of tariff income for last year, and that is most of the increase in the deficit.”
post Bessent says Biden had highest peacetime deficit-to-GDP in history, Trump brought it down over one percent in 2025
https://x.com/SecScottBessent/status/2090518102777659477