Bessent Calls Out Media for Hiding Economic Crisis Until Trump Took Office

Treasury Secretary Scott Bessent started off his CBS News interview Sunday by ripping leftist media — including CBS — for pretending Joe Biden’s horrible economy was great until he left office.

As We the People picked up extra jobs or lost jobs, as we struggled to pay bills and saw inflation eat up our savings, mainstream media swore we were fools who didn’t appreciate a booming economy. But as soon as Donald Trump took office and inherited Biden-Harris’s economic morass, the media began screeching hysterically about egg prices and insurance costs. As Bessent said, these stooges are total hypocrites.

Addressing the ever insidious “Face the Nation” moderator Margaret Brennan, who expressed concern about prices and economic backsliding, Bessent said, “You know, Margaret, what I find interesting is, for the past year and a half, and during the campaign, most of the media said, Oh, the economy is great. It's just a vibe session. Now that President Trump's in office, there's an economic problem. And I'll tell you what the problem was–”

.@SecScottBessent: What I find interesting is, for the past year and a half... most of the media said, "Oh, the economy is great..." Now that President Trump is in office, there's an "economic problem." ... It took four years to get us here. President Trump's been in office five… pic.twitter.com/KNgbK15KGg

— Rapid Response 47 (@RapidResponse47) March 2, 2025

Here Brennan interrupted Bessent huffily, but the secretary was having none of her excuses. As a matter of fact, Brennan had Democrats on the show in August defending Joe Biden and Kamala Harris on their economic record, and she personally asserted that Trump was wrong to blame Harris for inflation.

For Our VIPs: Trump’s Border Success, Other Wins Put Dems to Shame

As Bessent said of the media, “In general, this idea that working class Americans didn't know what they were talking about, they didn't know their lived experience, they didn't know what their pocketbooks were feeling.” We were told that we imagined the high prices and other serious issues.

“And I tell you,” Bessent added, “President Trump was elected, one of the reasons was the affordability crisis, and we are setting about doing that. So after four years, four years of disastrous policies, they were running these gigantic deficits that …that led to the affordability problem, massive government regulations. So what we had was a demand shock from the government spending that was met by supply constraints with over regulation.”

Trump and Bessent are working hard to help working Americans, but obviously such a catastrophe as the Bidenomics economy cannot be fixed overnight. It’s preposterous for the media to pretend so — but mainstream media in this country is preposterous in their bias and lies.

Bessent went on, “So we are in the process of deregulating, which will free the supply side, and we are cutting back the government spending. It took four years to get us here. President Trump has been in office five weeks, and I can tell you, we're working every day.” There are already some wins. “What I will point out, interest rates- a 10 year bond, which I am focused on, have been down every week since President Trump was president. Mortgage rates have been down every week. So that's a pretty good start,” Bessent said.

The American people knows the truth about the economy and who’s responsible, which is why Donald Trump had a landslide victory in the 2024 election. Brennan and her ilk are irrelevant liars.