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Scott Bessent: “2024 deficit to GDP was 6, 6.97%. 2025 went all the way down…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Watch CNBC's full interview with Treasury Secretary Scott Bessent

Published | Video Starts at 12:29

So, you know, I'm not sure what the CBO is saying. And for just to give your viewers some context, Joe, 2024 deficit to GDP was 6, 6.97%. 2025 went all the way down to 5.4%. That's constraining spending and growing the denominator. So when we have high growth, then the deficit to GDP comes down and that's how we pay down this debt. Interest rates. (12:29–12:39)

CLAIM

Asserts that the deficit to GDP ratio decreased from 6.97% in 2024 to 5.4% in 2025.

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