Trump, Musk actions put America at risk of 'a form of default,' former Treasury chiefs warn

Five former Treasury secretaries expressed concerns about recent actions at the Treasury Department by Trump administration officials and Elon Musk’s DOGE team, warning of potential unlawful undermining of the US financial commitments. They emphasized the importance of upholding financial obligations and maintaining credibility. However, Kevin Hassett, a top economic advisor to President Trump, dismissed the former secretaries’ worries, stating that Treasury Secretary Scott Bessent found previous spending controls unacceptable and denying claims of Musk’s influence at the Treasury Department.

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