Bessent Condemns Obama-era Policies as “Orwellian” Amid Tariff Debates

By Newsmax Wires | Sunday, 09 November 2025 01:16 PM EST
Treasury Secretary Scott Bessent stated on ABC News’ This Week that the White House has no official plan to distribute federal funds to health insurance companies under the Affordable Care Act, despite President Donald Trump’s recent social media advocacy of the idea. “We don’t have a formal proposal,” Bessent said, “but what I’ve noticed over time is that Democrats give bills Orwellian names—the Affordable Care Act, the Inflation Reduction Act—and we end up with the opposite.” He criticized the ACA as having become “unaffordable” and claimed the Inflation Reduction Act “set off the greatest inflation in 50 years.”

Bessent emphasized that any action on such proposals requires the government to reopen first. “We are not going to negotiate with Democrats until they reopen the government,” he said. “It’s very simple. Reopen the government, and then we can have a discussion.”

Meanwhile, Trump promoted tariffs on foreign goods on Truth Social, asserting that “a dividend of at least $2,000 a person” would be paid to Americans. When pressed about this claim, Bessent acknowledged the potential for tax relief measures but stressed the long-term goal of rebalancing trade by reviving U.S. manufacturing. “It’s not about taking in revenue,” he said, “but about rebalancing.”

The Trump administration has defended its tariff policy before the Supreme Court, arguing the president has constitutional authority to impose duties on foreign goods. Critics, however, argue tariffs function as a tax on businesses and consumers, exceeding congressional power.