Treasury Secretary Bessent Discusses $5,000 Checks Amidst Rising National Debt
Treasury Secretary Scott Bessent informed the House Financial Services Committee on September 15, 2026, that the administration possesses a method to distribute $5,000 checks to Americans without incurring new borrowing or increasing the national debt or deficit. This statement was made as the U.S. national debt surpassed $40 trillion. When pressed by Democratic Rep. Juan Vargas of California, Bessent declined to disclose the specific mechanisms for this funding, stating that the Treasury has been working on it for a considerable period. He also suggested that these payments might be executable without requiring congressional approval. Earlier in the same session, Bessent acknowledged that the need to address the deficit is a factor contributing to the 10-year yield, which reached 5%, its highest level since 2007. This creates an apparent contradiction with his later assertion that the $5,000 payment program would not impact the deficit.
