Maxine Waters Accuses Treasury Secretary Bessent of Gaslighting Americans Towards Recession

Economic Downfall Under Bessent

• ⚠️ Rep. Maxine Waters asserts that Treasury Secretary Bessent is overseeing a significant economic downfall in modern history.
• 📉 The US economy, which previously had a strong recovery, is now falling behind other major economies, with GDP decreasing in the first quarter.
• 🎯 Waters criticizes the promise of a "golden age" under Trump, stating the US is falling behind Canada, Europe, and China.

The "Dumbest Trade War"

• 💥 Bessent is identified as the face of what The Wall Street Journal called the "dumbest trade war in history."
• 📉 This trade war has resulted in the worst first 100 days for US stock markets in over 50 years.
• 🛒 CEOs are warning of empty shelves and higher prices for consumers due to these policies.

Tariffs and Economic Impact

• 📈 Bessent himself reportedly admitted Trump's tariffs on China are "unsustainable" in private, yet publicly justifies them.
• 💸 Economists predict Trump's tariffs will cost the average American family nearly $5,000 more per year.
• 🏠 Tariffs are estimated to add $11,000 to the cost of each new home, impacting housing affordability.

Dismantling Consumer Protections

• 🧐 Waters questions why Bessent is dismantling agencies that protect consumers from financial fraud and abuse.
• 📉 Weakening of agencies meant to support struggling small businesses is also a point of concern.
• 💰 Allegations of senior administration members profiting from market manipulation and corruption are raised.

Accusations of Gaslighting

• 🤥 Waters directly accuses Bessent of gaslighting the American people by presenting economic chaos as a master plan.
• 🚨 If the plan is to steer the US economy into a recession, as economists predict, Waters states that the plan is working.