Treasury Secretary Bessent Will Tackle the Affordability Crisis

Treasury Secretary Scott Bessent is reportedly tackling the affordability crisis, according to the New York Post. Bessent and his team are prepared to fix the affordability crisis as he shapes President Trump‘s policies on tariffs, taxes, and the $38 trillion debt.

This is a key time as we head for the midterms and Democrats have latched onto this motivator “affordability,”  even though they caused the affordability crisis during Biden’s term.

Bessent plans to power the US economy for two consecutive quarters of growth. He said that the stiff levies on imports are aimed at bringing back domestic manufacturing rather than attacks on consumers. They also use the tariffs to leverage foreign markets to open up for US goods.

A recent Bank of America report says that there’s “no debate,” the tariffs have pushed consumer prices higher.

It takes time for these policies to work and there lies the problem

Economists also fear stagflation. Some say the tariffs weigh on the labor market and put upward pressure on inflation.

Bessent pushes back saying that tariffs will disappear over time like a melting ice cube as US production ramps up. He adds that they are necessary to challenge China’s heavily-subsidized industries.

Data released Friday show consumer spending increased only moderately in September.

What bothers me most about this is the affordability crisis with people not being able to afford homes or cars didn’t just begin. It blew up under Joe Biden and it became Donald Trump’s problem.

Democrats caused an affordability crisis through reckless spending that led to record inflation and hurt the American people.

President Trump’s policies of deregulation and private-sector growth are reversing this trend. Inflation is curving down, real incomes are rising, and… pic.twitter.com/4xZEZd3QKx

— Treasury Secretary Scott Bessent (@SecScottBessent) November 19, 2025