US EditionBessent Wants Americans to Avoid Easy-Money Traps and Invest in Financial Literacy
Bessent says budgeting and investing can help Americans avoid lottery tickets, buy-now-pay-later loans and crypto traps, citing compounding and long-term savings.
- On Wednesday, Treasury Secretary Scott Bessent urged Americans to avoid 'easy-money' traps like lottery tickets and buy-now-pay-later loans during Financial Literacy Month, warning these behaviors undercut financial stability.
- Drawing on his humble beginnings in rural South Carolina, where his father lost generational wealth through overleveraging, Bessent believes financial literacy is essential for fostering social and economic mobility.
- Bessent promotes 'Trump Accounts,' a program providing $1,000 to babies born during President Donald Trump's administration, with funds locked up for 18 years to demonstrate "the power of compounding."
- Critics like Emily DiVito, senior adviser for economic policy at the Groundwork Collaborative, argue the administration should "focus on lowering the cost of living" rather than preaching penny-pinching.
- Record-Level U.S. debt of $39 trillion complicates Bessent's push for personal saving, as President Trump's economic approval rating dropped to 30% in April amid fiscal concerns.
26 Articles
26 Articles
Scott Bessent: Financial Literacy Unlocks 'Opportunity for Every American'
Treasury Secretary Scott Bessent capped off financial literacy month, saying that financial literacy unlocks "opportunity for every American." The post Scott Bessent: Financial Literacy Unlocks ‘Opportunity for Every American’ appeared first on Breitbart.
Associated Press News
Bessent wants Americans to avoid easy-money traps and invest in financial literacy
Treasury Secretary Scott Bessent says he’s concerned about the allure of easy money — lottery tickets, buy now, pay later loans and the promise of a crypto windfall.
Financial Literacy Fuels the American Dream, Treasury Secretary Tells Students
Save, budget, invest, and plan, and you’ll have a direct stake in helping the American economy thrive for its next 250 years, Treasury Secretary Scott Bessent told a group of middle school students on Thursday. Bessent’s brief remarks, delivered inside the Department of the Treasury’s historic cash room, capped off the monthlong celebration of Financial Literacy Month in the nation’s capital. During the April 30 financial fair, teenagers and the…
Bessent hosts financial literacy fair, touts education as key to American dream
Treasury Secretary Scott Bessent closed out Financial Literacy Month at the U.S. Department of the Treasury by hosting a literacy fair, welcoming over 50 students from the greater D.C. area on Thursday.Bessent framed the event as a reminder of the bedrock of U.S. success."We live in the greatest country in the history of the world and on the eve of our 250th anniversary, understanding what has driven our success is the key to our future and what…
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