Scott Bessent: “Defense primes...are seven, many of them five to seven years…”

“Look, these are, these are no different than systemically important banks. They exist at the pleasure of the United States of America. They exist to serve our national Defense primes...are seven, many of them five to seven years behind on their deliveries. In the meantime, they're buying back substantial portions of stock rather than building new facilities. So I think it is a good idea to bring them to heel.” (16:21–16:41)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.