Treasury Secretary Scott Bessent on Wednesday said that Democrats are aiming to reverse many of the hard-fought gains President Donald Trump has achieved by reining in President Joe Biden’s historic levels of deficit spending.

“The budget deficit began to shrink dramatically beginning in the second quarter of this year when there was no overlap with the Biden administration. From April to September, the cumulative deficit totaled just $468 billion. This is the lowest reading since 2019 and is down nearly 40 percent from the comparable period last year when Biden was spending recklessly,” Bessent wrote on X, sharing a chart detailing that Trump now has the lowest post-coronavirus pandemic budget deficit.

He added, “Today, President Trump is putting the U.S. financial system on solid foo

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