Today’s quote comes to us from Treasury Secretary Scott Bessent.
While on Fox News Channel’s Mornings With Maria (Bartiromo) show, the talk turned to the fact that business investments are surging. Here is Secretary Bessent’s explanation of why:
“Maria, this is a combination. It’s the tariff’s bringing back manufacturing to the US. It’s the full expensing in the One Big, Beautiful Bill, which I think is one of the most important things that we did.
“Companies can do 100% expensing for equipment, 100% expensing for factories. If you bring your factory back here. I think we had big pent-up demand.
“We are in the middle of this incredible AI boom that I don’t know whether you want to say this is the third, fourth, fifth industrial revolution. We’re seeing the hyperscaler spend like we never have before.
“I think what’s really gone unheralded here is the Trump administration’s emphasis on deregulation. We are making it possible to build things in America again. For years, if you wanted to build a factory, a pipeline, a transmission grid, you were held up by permitting. President Trump has given, whether it’s EPA, the Energy Interior, a mandate that these permits should get out within a month. So America is building things again.
“I tell you, this is the way that countries get rich and stay rich is through long-term investment and productivity.”
Do you agree with Scott Bessent? If not, you better have a pretty good reason, because that comes across as very, very credible to me.
I award Treasury Secretary Scott Bessent Quote Of The Day honors for explaining our remarkable business surge so clearly.
Now, I’ll wait for the “anything Trump or anyone associated with him does is garbage” crowd to tell me why he’s wrong. I have a feeling it is going to be a loooo-o-o-o-o-oooong wait.
