Bessent was ‘holding up a mirror' to lawmakers, economist argues

• The national deficit is primarily a spending problem, not a revenue problem, according to Bessent and Antoni.
• Lawmakers are criticized for using hearings for political grandstanding rather than seeking expert economic insights.
• Economic indicators like real wages and home affordability have not fully recovered from previous policies, despite recent positive trends.
• The potential confirmation of Kevin Warsh to the Fed is discussed, with an expectation for him to cut interest rates and improve monetary policy.

The discussion revolves around Treasury Secretary Scott Bessent's congressional hearing, where economist EJ Antoni argues Bessent highlighted that the national deficit is a spending problem, not a revenue problem. Antoni criticizes lawmakers for grandstanding instead of seeking real economic solutions. The conversation also touches on economic performance under different administrations and the potential impact of a new Fed pick on interest rates.