Ever since incoming Treasury Secretary Scott Bessent underwent his Senate confirmation hearings this week, there has been chatter regarding his 3-3-3 strategy, a plan to help reduce the federal deficit while simultaneously boosting the economy. What is this plan and is it actually capable of improving the American economy? We get into it.
On this week’s episode of Capitol Gains, Senior Columnist Rick Newman breaks down Bessent’s 3-3-3 strategy.
There are three main components to the 3-3-3 plan:
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Reduce federal deficit to 3% of gross domestic product (GDP)
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Raise GDP growth to 3% per year
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Add 3 million barrels per day of domestic oil production
In the video above, Newman breaks down where the United States stands now with GDP growth and the federal budget numbers, how the oil markets would handle these demands, and whether or not the 3-3-3 could be implemented and actually work.
To learn more, check out the clip above and listen to the full episode of Capitol Gains here.
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This post was written by Lauren Pokedoff.