Treasury to repurchase $6B in bonds in bid to lower debt maintenance

The Treasury Department is set to buy back up to $6 billion in its own bonds this week as part of a larger effort to lower maintenance on the debt.

“I have asymmetric information. I am the house now,” Secretary Scott Bessent said Tuesday, according to Politico. “Bet against me if you want.”

Bond yields soared on the news, which comes as the U.S. national debt clears $40 trillion. During the early months of the Trump administration, the Elon-Musk-led Department of Government Efficiency (DOGE) attempted to curb waste, fraud, and abuse, while encouraging spending cuts.

The failure of Congress to follow through on his proposals ultimately fueled a public break between Musk and the administration, though he and President Donald Trump have reconciled.

The debt, however, remains a thorny issue for lawmakers.

Ben Whedon is the Chief Political Correspondent for Just the News. Follow him on X.