Amna Nawaz
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WATCH: U.S. ‘will never default,' Bessent says in House hearing
Posted
May 6, 2025
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May 6, 2025
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1:58Now PlayingTreasury Secretary Scott Bessent said Tuesday that, while the nation is approaching its “X date,” or estimated time frame when the country won’t be able to fully meet its financial obligations on time, the U.S. “will never default.”
“We will share with Congress when we believe we are approximating that date. So, that will be forthcoming,” Bessent told lawmakers on the House Appropriations Subcommittee on Financial Services and General Government. “But I will tell you, just as an outfielder running for a fly ball, we are on the warning track. And when you're on the warning track, it means the wall’s not far away. So, it's not today [and] may not be next week, but it is fast approaching.”
However, Bessent promised that the U.S. “will raise the debt ceiling” and “Treasury will not use any gimmicks.”
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