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Really really good @theallinpod with @SecScottBessent. Couple highlights I took away below: - I'm [Bessent] a deficit hawk. But can't do it all at once. Every $300b we cut is 1% of GDP. we're trying to land the plane well - By 2028 get back to long term average - 3 / 3.5% deficit to GDP - Long term average is 18% gov spending to GDP. Biden took it to 25%. Singapore is 18%. Singapore - they like small government, don't like illegal immigration, like personal safety just like Trump administration - Plan 1: 1)De-lever the government by cutting spending, shedding excess government labor. 2) de -regulate the financial sector. 3) Private sector can re-lever. Shed government jobs picked up by private sector. When private sector re-levers, can stimulate growth - Plan 2: Re-order the international trading system. Bring jobs back to the US and re-invigorate the middle class. Use Tariffs where needed. But tariffs are just one arrow. - 3 other things to bring manufacturing back. 1) Low and predictable taxes. 2) Substantially lower regulation / make it more predictable. 3) Make energy cheaper. - Fixing affordability. Getting prices down is just one component. Really it's getting real wages up. - Tax cuts - Yes, they reduce revenue. BUT - They will grow GDP. Trendline as been 1.8%. If you can get that over 3%, keep expenses flat, then it works. And we're really just renewing the tax regime, not changing it. Doing nothing means tax regime reverts, we want to keep it - Deregulation - an important lever. Regulation is a "financial corset." Cutting regulation = driving investment dollars. Main street is served by regional / community banks. And they have been stifled by regulation. We'll re-examine banking regulation, particularly as it relates to smaller banks. Unlock capital for Main Street - We're not just focused on "lowering rates." We want cheap energy. We want government spending down. We want lower regulation. When all of this happens, rates will come down Pro business / pro growth ✅✅
jaminball ↗