Trump’s new Sec of Treasury 3-3-3 plan

[BrunoMars420]

Treasury secretary nominee Scott Bessent's '3-3-3' plan: What to know | Fox Business

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

www.foxbusiness.com

“
Bessent discussed the 3-3-3 plan this summer at an event hosted by the Manhattan Institute. He said it would involve cutting the budget deficit to 3% of gross domestic product (GDP) by 2028, the last year of Trump's second term; boosting GDP growth to 3% through deregulation and other pro-growth policies; and increasing U.S. energy production to the equivalent of an additional 3 million barrels of oil per day.

His 3-3-3 plan was inspired by the late Japanese Prime Minister Shinzo Abe, who adopted a "three arrows" plan that featured aggressive monetary policy along with fiscal stimulus and structural reforms aimed at lifting Japan's economy from stagnation and persistent deflation.”

Thoughts?

 

[Huey Grey]

So the promise is to basically cut the deficit in half. Great. But how do you do it without touching the military or entitlements?

 

[sober_teacher]

Sounds great on paper; glad we know what the concepts of the plan are; now about those pesky details….

Also, remember when trump was promising 5% growth?

 

[Huey Grey]

Sounds great on paper; glad we know what the concepts of the plan are; now about those pesky details….

Also, remember when trump was promising 5% growth?

Funny how he now views 3% as a lofty goal. Biden was getting this much. Once again Americans stupidly allow themselves to get grifted out of what they already have.

 

[lonestar50]

Sounds great on paper; glad we know what the concepts of the plan are; now about those pesky details….

Also, remember when trump was promising 5% growth?

Trump still doesn't have a concept of a plan. He probably named this guy because he said something nice about Trump in an interview. You're naive if you think Trump had anything to do with this concept of a plan

 

[OrlandNole]

Sounds great on paper; glad we know what the concepts of the plan are; now about those pesky details….

Also, remember when trump was promising 5% growth?

Yeah, these are goals/objectives, not a plan. They sound great, but how do you get there?

 

[BrunoMars420]

Sounds great on paper; glad we know what the concepts of the plan are; now about those pesky details….

Also, remember when trump was promising 5% growth?

It is nice to finally see something. From what I’ve read is they probably won’t be touching defense spending but some entitlements are on the table. They didn’t go into detail on that but they brought up a bulk would be from the discretionary spending which helped with Biden’s GDP numbers.

Seems like they are banking on keeping the Trump tax cuts but also to offset any possible deficit increase from that they would cut government spending (wherever that may come).

 

[MitchLL]

Yeah, these are goals/objectives, not a plan. They sound great, but how do you get there?

Creative bookkeeping?

 

[BrunoMars420]

So the promise is to basically cut the deficit in half. Great. But how do you do it without touching the military or entitlements?

Looks like entitlements are on the table but not defense spending. Will be interesting on how DOGE comes into play with this policy

 

[Huey Grey]

Seems like they are banking on keeping the Trump tax cuts but also to offset any possible deficit increase from that they would cut government spending (wherever that may come).

This in itself proves to me this is all empty promises. This administration is a joke. Eff them.

 

[Huey Grey]

Looks like entitlements are on the table but not defense spending. Will be interesting on how DOGE comes into play with this policy

DOGE has zero ideas how to substantively reduce spending. Trump has loaded his cabinet with billionaires. Pretty clear he plans on giving rich people even more tax cuts. 2017 will be nothing compared to this next round. If anything our deficits will get worse.

 

[BrunoMars420]

This in itself proves to me this is all empty promises. This administration is a joke. Eff them.

Give it time Huey, they aren’t even in control yet. You can go the route of just hating everything they do or be like Lizzy Warren and Bernie on reaching out to work with the populist ideas that win back the middle class.

 

[Huey Grey]

Give it time Huey, they aren’t even in control yet. You can go the route of just hating everything they do or be like Lizzy Warren and Bernie on reaching out to work with the populist ideas that win back the middle class.

We gave Trump four years. He blew up spending. Not sure why you think he will be any different this time around? How naive are you?

 

[tarheelbybirth]

DOGE has zero ideas how to substantively reduce spending. Trump has loaded his cabinet with billionaires. Pretty clear he plans on giving rich people even more tax cuts. 2017 will be nothing compared to this next round. If anything our deficits will get worse.

His choice for Sec. of the Navy who, according to U.S. Code shall be appointed “from among persons most highly qualified for the position by reason of background and experience”, is megadonor John Phelan. He's never served in the military, so his "background and experience" consist of donating nearly $900,000 (that we know of) to Trump.

 

[Formerly Rockymtnole]

Trump’s 3-3-3 plan is “Three for me, three for the country, and…three more for me!”

 

[tarheelbybirth]

We gave Trump four years. He blew up spending. Not sure why you think he will be any different this time around? How naive are you?

Bruno's not being naive. He's saying you can rail against Trump or get to work crafting a message that will win back the voters in his cult. The problem, of course, is they seem to be immune to truth and facts so I'm not sure what that message might be.

 

[Huey Grey]

His choice for Sec. of the Navy who, according to U.S. Code shall be appointed “from among persons most highly qualified for the position by reason of background and experience”, is megadonor John Phelan. He's never served in the military, so his "background and experience" consist of donating nearly $900,000 (that we know of) to Trump.

His whole cabinet is there to enrich themselves. They couldn't give two shits about the deficit. All they want are steep tax cuts and the power to siphon off as much taxpayer funds as they can into their pocketbooks.

 

[THE_DEVIL]

Defense has to be part of any reductions or any reduction on the people by definition will be punitive on the populace

 

[pjhawk]

Treasury secretary nominee Scott Bessent's '3-3-3' plan: What to know | Fox Business

President-elect Trump's nominee to serve as Treasury secretary, Scott Bessent, has a 3-3-3 plan that aims to curb budget deficits while spurring economic growth and energy production.

www.foxbusiness.com

“
Bessent discussed the 3-3-3 plan this summer at an event hosted by the Manhattan Institute. He said it would involve cutting the budget deficit to 3% of gross domestic product (GDP) by 2028, the last year of Trump's second term; boosting GDP growth to 3% through deregulation and other pro-growth policies; and increasing U.S. energy production to the equivalent of an additional 3 million barrels of oil per day.

His 3-3-3 plan was inspired by the late Japanese Prime Minister Shinzo Abe, who adopted a "three arrows" plan that featured aggressive monetary policy along with fiscal stimulus and structural reforms aimed at lifting Japan's economy from stagnation and persistent deflation.”

Thoughts?

You get that this is a pro-inflation plan? Explicitly?

The US currently has a very strong economy, good growth rate and low inflation, anyone who wants a good job can get one. The economy is the envy of the world. He would be stupid to shake things up.

But Trump and the cranks he's appointed so far seem very intent on effing that up. Doesn't look like it's going to be anything like the first term, when he essentially coasted on the Obama economy until Covid.

 

[BrunoMars420]

We gave Trump four years. He blew up spending. Not sure why you think he will be any different this time around? How naive are you?

I understand what happened but also take into acct what was happening at the time that blew up the spending. I would hope his administration learned from it and they do a better job but time will tell.

I’m an internal optimist Huey. Even if I don’t like the guy at the helm I always hope for the best and Judge them by their results after things are implemented.

 

[Chishawk1425]

It is nice to finally see something. From what I’ve read is they probably won’t be touching defense spending but some entitlements are on the table. They didn’t go into detail on that but they brought up a bulk would be from the discretionary spending which helped with Biden’s GDP numbers.

Seems like they are banking on keeping the Trump tax cuts but also to offset any possible deficit increase from that they would cut government spending (wherever that may come).

Lol

 

[sober_teacher]

It is nice to finally see something. From what I’ve read is they probably won’t be touching defense spending but some entitlements are on the table. They didn’t go into detail on that but they brought up a bulk would be from the discretionary spending which helped with Biden’s GDP numbers.

Seems like they are banking on keeping the Trump tax cuts but also to offset any possible deficit increase from that they would cut government spending (wherever that may come).

Trump is also promising another massive new tax cut that has to happen quickly, or else he risks not having congressional support after ‘26 midterms to enact them. He’s also promising massive tariffs. Not sure how that works with these goals.

 

[BrunoMars420]

Bruno's not being naive. He's saying you can rail against Trump or get to work crafting a message that will win back the voters in his cult. The problem, of course, is they seem to be immune to truth and facts so I'm not sure what that message might be.

This is correct. I don’t see a downside on the left working with Trump on his populist ideas that won voters over. You can still fight the good fight on the majority of issues but also work together to fix the ones that people care about a lot.

 

[sober_teacher]

I understand what happened but also take into acct what was happening at the time that blew up the spending. I would hope his administration learned from it and they do a better job but time will tell.

I’m an internal optimist Huey. Even if I don’t like the guy at the helm I always hope for the best and Judge them by their results after things are implemented.

It’s not like he cut much his first 3 years on the job. And that was with competent people in his administration.

 

[BrunoMars420]

Trump is also promising another massive new tax cut that has to happen quickly, or else he risks not having congressional support after ‘26 midterms to enact them. He’s also promising massive tariffs. Not sure how that works with these goals.

Oh the tax cut is the same cuts we have now and will be approved through the reconciliation process. I do wonder if anything gets added or tinkered with though.

The way he uses Tarriffs in public is just a starting point with negotiations if he knows he has leverage. Now how those get enacted throughout the year will tell us a lot on how they will yield it in the administration. Will it be more than the first 4 years? Are they for show to get an inch on something that looks good on the headlines to his voters?

 

[BrunoMars420]

It’s not like he cut much his first 3 years on the job. And that was with competent people in his administration.

Oh I know, that’s why I added “I hope his administration learned”

From Bessent the tax cuts will be offset by cut in government spending 🤷🏽‍♂️

 

[Chishawk1425]

Oh I know, that’s why I added “I hope his administration learned”

From Bessent the tax cuts will be offset by cut in government spending 🤷🏽‍♂️

With a % pocketed by Trump,Eloon and the grifters. Bless your heart.

 

[pjhawk]

Give it time Huey, they aren’t even in control yet. You can go the route of just hating everything they do or be like Lizzy Warren and Bernie on reaching out to work with the populist ideas that win back the middle class.

LOL's. The Democrats need to get much better at practicing the type of branding politics that the Republicans have perfected, which includes an acute need to brand the Republican party for what they really are. The problem for the Democrats is that they are bad at politics as it's practiced in the 2020's.

"Populist ideas that win back the middle class". LOL's, just stupid stupid stupid, more of what they've been trying to do forever. The Democrats and the consultants who run them are clueless about why people vote the way they vote. The Dems need to effectively brand the Republicans for what they actually really are to the low-information voters who decide Presidential elections and specifically decided the 2024 election. And that has little to nothing to do with "populist" or "policy ideas". The Republican policy agenda is extremely unpopular, but it doesn't matter.

And of course despite everything and themselves, the Dems lost a very close Presidential election and actually picked up a seat or two in the House. They'll almost certainly come roaring back in 26 and 28 in spite of themselves because the Trump administration even before taking control is pretty obviously going to be a disaster.

 

[sober_teacher]

Oh the tax cut is the same cuts we have now and will be approved through the reconciliation process. I do wonder if anything gets added or tinkered with though.

The way he uses Tarriffs in public is just a starting point with negotiations if he knows he has leverage. Now how those get enacted throughout the year will tell us a lot on how they will yield it in the administration. Will it be more than the first 4 years? Are they for show to get an inch on something that looks good on the headlines to his voters?

No. He’s specifically called for even larger tax cuts this time around.

Oh I know, that’s why I added “I hope his administration learned”

From Bessent the tax cuts will be offset by cut in government spending 🤷🏽‍♂️

That requires him admitting his administration wasn’t perfect. He never makes mistakes remember?

 

[BrunoMars420]

No. He’s specifically called for even larger tax cuts this time around.

That requires him admitting his administration wasn’t perfect. He never makes mistakes remember?

Link in the larger tax cuts comment? Would like to read about it

I think moving towards this policy of 3-3-3 is a roundabout way of saying he made a mistake haha. Now if he sticks to it is the other question

 

[Moral]

 

[pjhawk]

This is correct. I don’t see a downside on the left working with Trump on his populist ideas that won voters over. You can still fight the good fight on the majority of issues but also work together to fix the ones that people care about a lot.

The absolute dumbest thing the Democrats could do is work with Trump on anything. So they will probably try to do it. They appear to be hopeless. Their pretty much complete silence as Trump over and over names cranks and cronies and crooks and sex pests to his administration has been pathetic.

The Democrats need to oppose this administration strongly and loudly from day 1 (it's what the Republicans do as a matter of course when the Democrats are in charge). The Democratic path back to power is to point out and oppose the fascistic authoritarian nature of the Trump/Maga movement, and the over-the-top corruption, incompetence, lawlessness and meanness that comes along with it.

Normalization of this anti-American BS by "working" with Trump is bad, horrible politics and bad, horrible for them and the country.

 

[lucas80]

Trump doesn’t have the discipline or focus to stick to any kind of a plan. As soon as someone on Fox touts some other idea he’ll undercut his own plans and cabinet members. The first sign of a recession he’ll abandon all talk of belt tightening and sacrifice. I see Breadbags has found a niche riding in Elon’s sidecar. Wait until they get the knives out for farm programs.

 

[sabula]

Trump’s 3-3-3 plan is “Three for me, three for the country, and…three more for me!”

Not sure how they're going to do this and still give all those promised tax cuts to the billionaires?

 

[BrunoMars420]

The absolute dumbest thing the Democrats could do is work with Trump on anything. So they will probably try to do it. They appear to be hopeless. Their pretty much complete silence as Trump over and over names cranks and cronies and crooks and sex pests to his administration has been pathetic.

The Democrats need to oppose this administration strongly and loudly from day 1 (it's what the Republicans do as a matter of course when the Democrats are in charge). The Democratic path back to power is to point out and oppose the fascistic authoritarian nature of the Trump/Maga movement, and the over-the-top corruption, incompetence, lawlessness and meanness that comes along with it.

Normalization of this anti-American BS by "working" with Trump is bad, horrible politics and bad, horrible for them and the country.

They have been silent? Have you been paying attention haha. It seems like you are one of those over the top type of dudes when it comes to messaging and tactics. God speed with your efforts

 

[Hoosierhawkeye]

Who cares about the treasury secretary's plan. Traditionally the secretary of the treasury is a functionary that runs the organization that makes sure the government is getting it's tax revenues and the checks are being sent out.

The actual spending decisions are done by congress and the president. If congress and the president approve spending than the treasury secretary's job is to make that happen no matter if he agrees with it or not.

 

[BrunoMars420]

Who cares about the treasury secretary's plan. Traditionally the secretary of the treasury is a functionary that runs the organization that makes sure the government is getting it's tax revenues and the checks are being sent out.

The actual spending decisions are done by congress and the president. If congress and the president approve spending than the treasury secretary's job is to make that happen no matter if he agrees with it or not.

You should because it seems like he has the ear of the president and has been pushing this to him. Gives you an insight on what policies will be coming.

 

[pjhawk]

They have been silent? Have you been paying attention haha. It seems like you are one of those over the top type of dudes when it comes to messaging and tactics. God speed with your efforts

I pay way way way more attention to how the Democrats do politics than what you've shown via what I've read of your posts in this thread and on this board. And I am way way way more informed and intelligent than you are.

And to help you with placing yourself around here per informed/intelligent, I'm pretty far away from being the most informed/intelligent poster on this board.

 

[sober_teacher]

Link in the larger tax cuts comment? Would like to read about it

I think moving towards this policy of 3-3-3 is a roundabout way of saying he made a mistake haha. Now if he sticks to it is the other question

Trump’s Tax and Tariff Ideas: Details & Analysis

We estimate Trump’s proposed tariffs and partial retaliation from all trading partners would together offset more than two-thirds of the long-run economic benefit of his proposed tax cuts.

taxfoundation.org

That’s the details.

 

[Titanhawk2]

So the promise is to basically cut the deficit in half. Great. But how do you do it without touching the military or entitlements?

increasing tax revenue by spurring the economy, is one way - but you never think of that.