Coincidentally, I've been watching CNN, and they just did a longish interview with a British economist. She said Bessent and others have for some time--since before he hooked up with Trump--wanted to bring about a complete reorientation of the U.S. economy. That they believe the debt needs to be dealt with, and that we should aim to return to what we were in the pre-1980s period: a major industrial power.
It's more complicated than that, of course. but the Brit says Bessent and his friends are absolutely serious about this, and realize that if carried out, it will cause prolonged pain for ordinary people. However, they believe it's the only way to achieve a "new" and reinvigorated economy.
What she didn't say is whether she thinks Trump understands any of this. My guess would be that he does not.
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