According to CNBC, Treasury Secretary Scott Bessent said there is a "very good chance" the U.S. budget deficit under President Donald Trump has likely peaked. He told Sara Eisen in an exclusive interview that the Treasury Department is focused on fiscal consolidation after its extraordinary debt buyback announcement, and said several hundred billion dollars could be saved through those efforts. The monthly U.S. budget deficit reached $432 billion in July, its highest level in more than half a decade, while the fiscal year-to-date gap climbed to almost $1.8 trillion. The Treasury Department also said this week that the U.S. government debt pile used to fund those deficits rose above $40 trillion, a record. Bessent said he expects this year's tariff revenue to come in around the same level as 2025's after levies were re-implemented, and said those revenues should not need to be refunded to companies this time.