Treasury Secretary Scott Bessent fired back at California Democrat Governor Gavin Newsom after Newsom mocked him for being “smug.”
In a Fox Business interview at the World Economic Forum in Davos, Bessent was discussing the Trump administration’s plan to limit or ban large institutional investors from buying single-family homes to ease supply shortages and keep housing more affordable for individual buyers.
The administration has floated measures to restrict big institutional investors (such as private equity firms and large corporate landlords) from purchasing single-family homes, since these entities have been accused of buying up large numbers of houses and reducing supply for regular buyers.
Bessent was explaining that any guidance on this policy would need to distinguish between true small “mom and pop” investors and large investors.
He used an example of a hypothetical small investor, saying, “We’re going to give guidance, at some point, to see, what is a mom and pop. Someone, maybe your parents for their retirement have bought 5, 10, 12 homes. So we don’t want to push the moms and pops out; we just want to push everyone else out,” meaning larger, institutional buyers.
Newsom mocked Bessent, writing on X, “Could this smug man be more out of touch?”
<blockquote class="twitter-tweet">
Could this smug man be more out of touch? <a href="https://t.co/GUqqi5KoNB">https://t.co/GUqqi5KoNB</a>
— Gavin Newsom (@GavinNewsom) <a href="https://twitter.com/GavinNewsom/status/2013744283136991407?ref_src=twsrc%5Etfw">January 20, 2026</a></blockquote>
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Bessent fired back:
<blockquote>
Governor Newsom, who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics than Kamala Harris. He&#8217;s here this week with his billionaire sugar daddy, Alex Soros, and Davos is a perfect place for a man who, when everyone else is on lockdown, when he was having people arrested for going to church. &#8230; Shame on him. He is too smug, too self-absorbed, and too economically illiterate to know anything. &#8230; Let me know if you need any further clarification.
</blockquote>
<blockquote class="twitter-tweet">
California Governor Gavin Newsom called the Treasury Secretary smug. Today in Davos the Treasury Secretary responded.. and I have to quote this: &#8220;Governor Newsom, who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian who knows less about economics…
— Edward Lawrence (@EdwardLawrence) <a href="https://twitter.com/EdwardLawrence/status/2013916326801068099?ref_src=twsrc%5Etfw">January 21, 2026</a></blockquote>
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Newsom never lived a middle-class financial life as an adult; his career wasenabled by elite patronage, not grassroots entrepreneurship, as his father, William Newsom, a judge and political insider, was close friends with Gordon Getty, heir to the Getty oil fortune. Getty bankrolled Newsom’s first major business ventures, providing hundreds of thousands of dollars in startup capital.
Earlier this month, AP <a href="https://apnews.com/article/california-budget-gavin-newsom-last-year-deficits-6811fe4519bac5145f4002959690a280">pointed out</a>, “California Gov. Gavin Newsom’s office said the state faces a $2.9 billion budget deficit this year &#8230; It’s the fourth year in a row that the nation’s most populous state faces a multibillion-dollar budget deficit. This year’s shortfall comes despite growing revenues fueled by stock market gains and investments in artificial intelligence.”
Bessent came from a working family; his father was a real estate developer who experienced financial ups and downs. Bessent later earned a B.A. in political science from Yale University in 1984, then moved into finance.

MixCollage-21-Jan-2026-08-46-AM-5567

Bessent Fires Back At Newsom After ‘Smug’ Jab

California

Gavin Newsom

Scott Bessent

Treasury Department

President Donald Trump ripped into the United Kingdom on Tuesday for its plan to cede control of the Chagos Islands in the Indian Ocean to Mauritius. 
Trump said that the deal showed “weakness” to Russia and China and would endanger a key American military base located on the island of Diego Garcia, one of the Chagos Islands. Last year, the United Kingdom inked a deal to hand control of the islands over to Mauritius. At the time, the agreement was supported by the Trump administration. 
“Shockingly, our ‘brilliant’ NATO Ally, the United Kingdom, is currently planning to give away the Island of Diego Garcia, the site of a vital U.S. Military Base, to Mauritius, and to do so FOR NO REASON WHATSOEVER,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/115926047595803521">wrote</a> on Truth Social. “There is no doubt that China and Russia have noticed this act of total weakness. These are International Powers who only recognize STRENGTH, which is why the United States of America, under my leadership, is now, after only one year, respected like never before.”
Trump said that the deal showed the strategic necessity of the United States acquiring Greenland. 
“The UK giving away extremely important land is an act of GREAT STUPIDITY, and is another in a very long line of National Security reasons why Greenland has to be acquired. Denmark and its European Allies have to DO THE RIGHT THING,” he added. 
Treasury Secretary Scott Bessent echoed that same reasoning during an appearance at the World Economic Forum on Tuesday. 
“The U.K. is signing the island over to Mauritius. So again, I can see why the president believes that for U.S. engagement we do not want another Diego Garcia on our hands,” Bessent said, referring to Trump’s Greenland aspirations. 
A spokesman for British Prime Minister Keir Starmer said that his &#8220;position hasn&#8217;t changed on Diego Garcia or on the treaty that&#8217;s been signed.&#8221;
The Naval base on Diego Garcia <a href="https://cnrj.cnic.navy.mil/Installations/NSF-Diego-Garcia/About/About-Diego-Garcia/">provides</a> logistical support to American forces deployed for missions in the Indian Ocean and Persian Gulf. The island is home to about 280 Navy personnel, 40 Air Force personnel, and 40 British troops. 
Trump&#8217;s State Department <a href="https://www.state.gov/u-s-support-for-uk-and-mauritius-agreement-on-chagos-archipelago">previously approved</a> the agreement to return the islands to Mauritius&#8217; control. The island of Diego Garcia would be leased to the United Kingdom for 99 years. The Trump administration determined that the deal secured “the long-term, stable, and effective operation of the joint U.S.-UK military facility at Diego Garcia,” Secretary of State Marco Rubio said at the time.

U.S. President Donald Trump Visits Scotland For Rounds Of Golf And Trade Talks

Trump Warns Of ‘Total Weakness’ In British Plan To Surrender Strategic Islands

Donald Trump

Keir Starmer

United Kingdom

Treasury Secretary Scott Bessent said that acquiring Greenland is “essential” to U.S. national security and that an impending “fight for the Arctic” is real.
During an appearance Sunday on NBC’s “Meet the Press,” host Kristen Welker asked Bessent if President Trump was simply using Greenland as a negotiating tactic or if he is truly intent on “annexing” the territory.
“President Trump strongly believes that we cannot outsource our security because … let me tell you what will happen. And it might not be next year, might not be in five years, but down the road, this fight for the Arctic is real,” Bessent began.
The secretary noted that if there were an attack on Greenland, the U.S. would be dragged in anyway due to “NATO guarantees.”
“Make it part of the United States, and there will not be a conflict,” he said. “Because the United States right now, we are the hottest country in the world; we are the strongest country in the world. Europeans project weakness; U.S. projects strength.”
After Welker noted that Denmark says “Greenland is not for sale,” Bessent responded that “for over a century, American presidents have wanted to acquire Greenland, and what we can see is that Greenland is essential to the U.S. national security.”
“We&#8217;re building the Golden Dome, the missile system. President Trump is looking — is being strategic. He&#8217;s looking beyond this year. He&#8217;s looking beyond next year to what could happen for a battle in the Arctic,” Bessent added. “We are not going to outsource our national security. We are not going to outsource our hemispheric security to other countries.”
<blockquote class="twitter-tweet" data-media-max-width="560">
🚨 JUST IN: Sec. Scott Bessent says the weak Europeans MUST hand over Greenland to President Trump
&#8220;The fight for the arctic IS REAL! [Make] it part of the US, and there won&#8217;t be conflict!&#8221;
&#8220;Europe projects WEAKNESS. The US projects STRENGTH!&#8221; 🔥🔥🔥<a href="https://t.co/ObLneRRJTI">pic.twitter.com/ObLneRRJTI</a>
— Eric Daugherty (@EricLDaugh) <a href="https://twitter.com/EricLDaugh/status/2012896637950034217?ref_src=twsrc%5Etfw">January 18, 2026</a></blockquote>
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The secretary then reminded Welker that during Trump’s first term, he warned Europe against building the second Nord Stream pipeline and continuing to rely on Russian oil, and “guess what is funding Russia&#8217;s efforts against Ukraine? European purchases of Russian oil.&#8221;
President trump has been continuing to ratchet up the pressure on Europe in his pursuit of Greenland.
On Saturday, he <a href="https://www.dailywire.com/news/trump-raises-pressure-for-greenland-purchase-hits-8-nations-with-tariffs" target="_blank" rel="noopener">vowed to implement 10% tariffs</a> on eight European nations until Denmark allows a sale, which Trump said is vital for the sake of “world peace.”
In a lengthy Truth Social post, Trump said, starting February 1, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will be charged a 10% tariff “on any and all goods sent to the United States of America.”
The tariff, he said, will spike to 25% by June 1, and will remain in place until “a Deal is reached for the Complete and Total purchase of Greenland.”
Amanda Prestigiacomo contributed to this piece.

President Trump Signs Executive Order In The Oval Office

Bessent Says ‘Fight For The Arctic Is Real,’ Greenland ‘Essential’ To National Security

Denmark

Europe

Global Politics

Greenland

Trump Administration

World

Treasury Secretary Scott Bessent recently said that Minnesota Democratic Governor Tim Walz refused to provide him security during a scheduled interview at the state capitol amid ongoing protests and a high-profile fraud investigation.
Bessent told conservative activist Chris Rufo that Walz is &#8220;a coward&#8221; who is &#8220;afraid of what&#8217;s coming&#8221; amid Treasury Department investigations into allegations of widespread fraud in Minnesota. The interview, which was released on <a href="https://www.youtube.com/watch?v=BVlKt9NoSvw&amp;t=33s">The Blaze</a>, was initially scheduled to be held inside the Minnesota State Capitol, but it had to be moved to another location because Walz &#8220;would not guarantee that the Treasury Secretary of the United States of America would have police protection,&#8221; according to Bessent.
&#8220;Tim Walz is a coward. He is a coward,&#8221; Bessent <a href="https://x.com/RapidResponse47/status/2010885601038393657">said</a>, adding, &#8220;He is afraid of what&#8217;s coming. He&#8217;s not going to be able to hide behind this curtain because we will get there, and I don&#8217;t have to go into the Capitol building to investigate him. I would love for him to come to Treasury and answer some questions. I can guarantee you that he will be safe and sound then. Depending on what we discover, I don&#8217;t know about his future.&#8221;
The Daily Wire reached out to Walz&#8217;s office for comment.
The state capitol was the site of at least one large demonstration last Friday, which remained peaceful as thousands of demonstrators gathered to hold a vigil for Renee Good, who was fatally shot by an Immigration and Customs Enforcement agent. Walz attended the vigil at the state capitol and was surrounded by state troopers, Fox 9 <a href="https://www.fox9.com/news/minneapolis-ice-shooting-community-demands-justice-renee-good-capitol-vigil">reported</a>.
Bessent is in the Twin Cities as the Treasury Department seeks to &#8220;combat rampant government benefits fraud.&#8221; The fraud probe stems from a federal indictment against dozens of Minnesotans — most of them of Somali descent — alleging that they received state funds for welfare programs, but the funds were &#8220;diverted to benefit Somali fraud rings.”
The Treasury secretary&#8217;s visit to Minneapolis coincides with anti-ICE protests and clashes with federal law enforcement officers. The demonstrations have continued for more than five days after the shooting death of Good. Along with pushing back against the Trump administration&#8217;s fraud investigation, Minnesota also filed a lawsuit on Monday to stop the surge of federal agents to the state, arguing that Minnesota is being unfairly targeted over &#8220;differences of opinion.&#8221;
“The obvious targeting of Minnesota for our diversity, for our democracy, and our differences of opinion with the federal government is a violation of the Constitution and of federal law,” said Minnesota Attorney General Keith Ellison.
Shortly after Minnesota filed the lawsuit against the federal government, the Trump administration deployed 1,000 more Border Patrol agents to the state to continue the immigration crackdown.
On the fraud front, Bessent <a href="https://x.com/RapidResponse47/status/2010891373097173211">suggested</a> that the federal investigation into Minnesota uncovered some troubling issues with Ellison.
&#8220;There are evidently some disturbing tapes of AG Ellison in meetings with people who donated to him — them calling for political favors to stop the investigations,&#8221; he said. &#8220;So, we&#8217;ll see. Again, I don&#8217;t want to get out ahead of the investigation. We&#8217;re going to be very methodical, and Chris, I can guarantee you, when the bear trap snaps, we&#8217;re going to get these folks.&#8221;
Bessent&#8217;s comment about Ellison likely refers to the attorney general&#8217;s highly scrutinized December 2021 meeting, during which Ellison spoke with individuals linked to the Feeding Our Future fraud scheme. A nearly 55-minute <a href="https://freebeacon.com/democrats/keith-ellison-held-chummy-meeting-with-feeding-our-future-fraudsters-weeks-before-fbi-raid-audio-shows-contradicting-minnesota-ags-public-statements/">recording</a> from the meeting revealed that Ellison condemned the Minnesota Education Department&#8217;s probe into Feeding Our Future, claiming it was done in &#8220;a very racist, xenophobic, Islamophobic manner.&#8221;
When reached for comment, Ellison&#8217;s office directed The Daily Wire to an <a href="https://www.startribune.com/attorney-general-keith-ellison-my-meeting-before-feeding-our-future-raid-was-routine/601335939">op-ed</a> the attorney general wrote last April in response to criticism of the meeting.
&#8220;I took a meeting in good faith with people I didn’t know and some turned out to have done bad things,&#8221; Ellison wrote in the op-ed. &#8220;I did nothing for them and took nothing from them. Some months later, some of them were held accountable for their illegal conduct in the Feeding Our Future case, as well they should have been. I’m glad they were.&#8221;
Somali immigrants in Minnesota are also accused of funneling stolen government funds to Somalia and into the hands of the terrorist organization, Al-Shabaab.
&#8220;There&#8217;s tons of luxury properties and cars that have been bought over there,&#8221; Bessent said, referring to East Africa. &#8220;How the hell does this happen? How did it happen? President Trump is outraged. I&#8217;m outraged. The American people should be outraged.&#8221;

Tim Walz/Scott Bessent

Bessent Blasts ‘Coward’ Tim Walz For Withholding Security Amid Fraud Probe, Anti-ICE Protests

Keith Ellison

Minnesota

Tim Walz

Treasury Secretary Scott Bessent said Friday that multiple money service businesses in Minnesota were under investigation for potentially transferring money stolen from the federal government overseas to Somalia.
Bessent made the comments during a press conference from the Minneapolis-St. Paul area where he announced actions that the Treasury Department and the IRS are taking to crack down on fraud. He said that multiple money service businesses — non-bank financial institutions that transmit money — had been informed that they were under investigation.
“Our citizens have a right to know that their tax dollars are not being diverted to fund acts of global terror, or to fund luxury cars for fraudsters. Democratic Governor Tim Walz has allowed welfare programs and fraud to spiral out of control,” he said. “Billions of dollars intended for hungry children, housing for disabled seniors, and services for children with special needs were diverted to people who cheated the system, some of whom are not even American citizens.”
Bessent said that the IRS and the Financial Crimes Enforcement Network (FinCen), the arm of the Treasury that investigates money laundering and terrorist financing, were looking into whether money fraudulently obtained through welfare programs went to Al-Shabaab, an Islamic terror group in Somalia.
Both agencies are investigating whether financial institutions complied with regulations to detect money laundering and other illicit activities. He did not disclose which money service businesses were under investigation.
“These businesses had an obligation to comply with anti-money laundering laws, and they will be held responsible for any crimes they committed,” he said.
Additionally, Bessent said that banks in Hennepin County, which encompasses Minneapolis, and Ramsey County, home to St. Paul, were being required to submit information about money transferred overseas.
Bessent estimated that around $300 million in funds had been fraudulently taken from the federal government through welfare programs meant to help impoverished children.
When asked by The Daily Wire&#8217;s Mary Margaret Olohan during the conference if Walz may be potentially wrapped up in the investigation, Bessent said, “It&#8217;s clear that Governor Walz has been negligent in his fiduciary duties as the chief executive of the state of Minnesota that this would happen on his watch, and we are actively pursuing all leads to see the level of involvement, whether it&#8217;s limited to just negligence and incompetence, or is something more than that.”
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/MaryMargOlohan?ref_src=twsrc%5Etfw">@MaryMargOlohan</a> asks Sec. Bessent what role Tim Walz played in the Somali fraud scandal: <a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;It&#8217;s clear that Gov. Walz has been negligent&#8230;We are actively pursuing all leads to see the level of involvement whether it&#8217;s limited to negligence and incompetence or… <a href="https://t.co/AY5IGfprY9">pic.twitter.com/AY5IGfprY9</a>
— Daily Wire (@realDailyWire) <a href="https://twitter.com/realDailyWire/status/2009671316090003698?ref_src=twsrc%5Etfw">January 9, 2026</a></blockquote>
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In recent weeks, the Trump administration has mobilized multiple departments to investigate alleged widespread fraud in Minnesota, including allegations that millions of taxpayer dollars have been funneled to fraudulent daycares across the state throughout the past ten years.
The Department of Health and Human Services has stopped funding for childcare and other welfare programs to Minnesota while federal law enforcement investigates.

Bessent Says Fed Shouldn’t Delay On Rate Cuts, CNBC Says

Feds Flag Financial Institutions That May Have Sent Money To Somali Terrorist Org

Crime

Fraud

Minneapolis

Somalia

U.S.

Everyone&#8217;s favorite season gets an earlier kickoff this year. Grab a calculator or an accountant — the first day to file taxes is January 26.
This season will look different for tax filers after the Trump administration passed the One Big Beautiful Bill, which was signed into law July 4, 2025.
Treasury Secretary Scott Bessent announced Thursday that millions of Americans may see bigger tax refunds this year thanks to the new legislation.
&#8220;The president wants to get this money into the hands of the American people as soon as possible,&#8221; Bessent said. &#8220;As withholdings are adjusted, millions will take home bigger paychecks every month this year.&#8221;
<blockquote class="twitter-tweet">
Thanks to President Trump’s One Big Beautiful Bill, millions of Americans may see the largest tax refunds of their lives in 2026. And as withholdings are adjusted, millions will take home bigger paychecks every month this year.
The President wants to get this money into the…
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/2009343095029059676?ref_src=twsrc%5Etfw">January 8, 2026</a></blockquote>
The IRS expects to receive about 164 million individual income tax returns this year, with most people filing electronically.
“President Trump is committed to the taxpayers of this country and improving upon the successful tax filing season in 2025,” Bessent said. “Prior to the passage of the One, Big, Beautiful Bill, which delivered working families tax cuts, Treasury and IRS were diligently preparing to update forms and processes for the benefit of hardworking Americans, and I am confident in our ability to deliver results and drive growth for businesses and consumers alike.”
For individuals, part of the tax cuts included in the One Big Beautiful Bill for 2026 include new tax breaks for seniors and no tax on tips, overtime, or car loan interest.
&#8220;The Internal Revenue Service is ready to help taxpayers meet their tax filing and payment obligations during the 2026 filing season,” said IRS Chief Executive Officer Frank Bisignano. “As always, the IRS workforce remains vigilant and dedicated to their mission to serve the American taxpaying public. At the same time, IRS information systems have been updated to incorporate the new tax laws and are ready to efficiently and effectively process taxpayer returns during the filing season.”
Secretary Bessent said the earlier start of the season means a quicker boost to the economy: &#8220;After this date, most of the benefits of the president’s bill will begin to materialize, presenting a major tailwind for our economy in 2026.&#8221;
The deadline for filing is April 15. The provisions of the One Big Beautiful Bill are listed <a href="https://www.irs.gov/newsroom/one-big-beautiful-bill-provisions">here</a>.

Credit: Kevin Carter vis Getty Images

2026 Marks One Of The Earliest Tax Season Starts In A Decade

Economy

Tax Cuts

Taxes

Treasury Secretary Scott Bessent said on Friday that he&#8217;s working to cut off federal benefits to people in the United States illegally, emphasizing that those benefits should be preserved for American citizens.
&#8220;At [President Donald Trump]&#8216;s direction, we are working to cut off federal benefits to illegal aliens and preserve them for U.S. citizens,&#8221; Bessent posted to X on Friday. 
&#8220;[The United States Treasury] announced that it will issue proposed regulations clarifying that the refunded portions of certain individual income tax benefits are no longer available to illegal and other non-qualified aliens, covering the Earned Income Tax Credit, the Additional Child Tax Credit, the American Opportunity Tax Credit, and the Saver’s Match Credit,&#8221; he explained.
<blockquote class="twitter-tweet">
At <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>&#8216;s direction, we are working to cut off federal benefits to illegal aliens and preserve them for U.S. citizens.<a href="https://twitter.com/USTreasury?ref_src=twsrc%5Etfw">@USTreasury</a> announced that it will issue proposed regulations clarifying that the refunded portions of certain individual income tax benefits… <a href="https://t.co/pn2MXoxDHC">https://t.co/pn2MXoxDHC</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1994478437042438573?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
Bessent&#8217;s announcement was made in response to President Donald Trump declaring on Thanksgiving that he would <a href="https://www.dailywire.com/news/in-blistering-thanksgiving-post-trump-promises-to-stop-migration-from-all-third-world-countries">pause all migration from third-world countries</a>.
Trump also promised to “end all Federal benefits and subsidies to noncitizens of our Country, denaturalize migrants who undermine domestic tranquility, and deport any Foreign National who is a public charge, security risk, or non-compatible with Western Civilization.”
Americans&#8217; generosity, Trump said, has been weaponized, allowing a vast foreign-born population to overwhelm the country and inflict deep social harm.
Trump said the U.S. now hosts a “foreign population” of 53 million, citing census data, and charged that many recent arrivals depend on taxpayer-supported welfare programs while coming from “failed nations, or from prisons, mental institutions, gangs, or drug cartels.”
<blockquote class="twitter-tweet">
A very Happy Thanksgiving salutation to all of our Great American Citizens and Patriots who have been so nice in allowing our Country to be divided, disrupted, carved up, murdered, beaten, mugged, and laughed at, along with certain other foolish countries throughout the World,…
— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1994272683387687053?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
In a separate post, Bessent stressed that illegal immigrants have &#8220;no place in our financial system.&#8221;
&#8220;Illegal aliens that use our financial institutions to move their illicitly obtained funds is exploitation, and it will end,&#8221; he said.
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> is right—if you’re here illegally, there’s no place for you in our financial system.
Illegal aliens that use our financial institutions to move their illicitly obtained funds is exploitation, and it will end.<a href="https://t.co/mIy7fFWWNw">https://t.co/mIy7fFWWNw</a>.
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1994480159093572067?ref_src=twsrc%5Etfw">November 28, 2025</a></blockquote>
This past week, it was uncovered that billions of taxpayer dollars have been stolen in Minnesota, during the tenure of Democrat Gov. Tim Walz. The money was reportedly funneled through fake nonprofits and shell companies, and — alarmingly — some of that money <a href="https://www.city-journal.org/article/minnesota-welfare-fraud-somalia-al-shabaab">has ended up in the hands</a> of the al-Qaeda-linked terrorist group Al-Shabaab, <a href="https://www.dailywire.com/news/minnesotas-somali-welfare-fraud-taxpayer-cash-funneled-to-terrorist-group?author=Hank+Berrien&amp;category=News&amp;elementPosition=0&amp;row=0&amp;rowType=Vertical+List&amp;title=Minnesota%E2%80%99s+Somali+Welfare+Fraud%3A+Taxpayer+Cash+Funneled+To+Terrorist+Group">The Daily Wire</a> reported.
Much of the fraud has been traced to Minnesota’s Somali community, where politically connected fraudsters have allegedly exploited numerous loopholes in the state’s welfare system.
Additionally, though illegals are technically banned from being direct recipients of <a href="https://www.dailywire.com/news/yes-millions-of-illegals-are-receiving-food-stamps?author=Amanda+Prestigiacomo&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Yes%2C+Millions+Of+Illegals+Are+Receiving+Food+Stamps">Supplemental Nutrition Assistance Program (SNAP) benefits</a> and some healthcare benefits, reports indicate millions of illegals receive these taxpayer-funded benefits.
Related: <a href="https://www.dailywire.com/news/in-blistering-thanksgiving-post-trump-promises-to-stop-migration-from-all-third-world-countries">In Blistering Thanksgiving Post, Trump Promises To Stop Migration From ‘All Third World Countries’</a>

Illegal immigrants

Treasury Sec: We’re Cutting Off Benefits To Illegals, They Belong To Americans

Illegal Immigration

Welfare

President Donald Trump on Monday signed an executive order laying the groundwork for his administration to designate chapters of the Muslim Brotherhood as terrorist organizations. 
The executive order directed Secretary of State Marco Rubio and Treasury Secretary Scott Bessent to begin preparing to designate chapters of the organization in Lebanon, Jordan, and Egypt as Foreign Terrorist Organizations and Specially Designated Global Terrorists. Rubio and Bessent now have 30 days to submit a report on the designation of any Muslim Brotherhood chapters and 45 days to officially designate the chapters as terrorist organizations. 
The Muslim Brotherhood, a group founded in Egypt in 1928, has been linked to violent groups across the Middle East, including Hamas. 
“Its chapters in Lebanon, Jordan, and Egypt engage in or facilitate and support violence and destabilization campaigns that harm their own regions, United States citizens, and United States interests,” Trump wrote in the executive order. “A senior leader of the Egyptian chapter of the Muslim Brotherhood, on October 7, 2023, called for violent attacks against United States partners and interests, and Jordanian Muslim Brotherhood leaders have long provided material support to the militant wing of Hamas.”
The executive order also noted that the Muslim Brotherhood’s military wing in Lebanon joined Hamas and Hezbollah in launching rockets into Israel in the aftermath of the October 7 attacks.
“Such activities threaten the security of American civilians in the Levant and other parts of the Middle East, as well as the safety and stability of our regional partners,” Trump wrote. 
Right now, DailyWire+ annual memberships are fifty percent off during our Black Friday sale. Join now at <a href="http://dailywire.com/blackfriday">dailywire.com/blackfriday</a>.
<a href="https://www.whitehouse.gov/fact-sheets/2025/11/fact-sheet-president-donald-j-trump-begins-process-to-designate-certain-muslim-brotherhood-chapters-as-foreign-terrorist-organizations-and-specially-designated-global-terrorists/">According</a> to the White House, the order&#8217;s “ultimate aim is to eliminate the designated chapters’ capabilities and operations, deprive them of resources, and end any threat such chapters pose to U.S. nationals and the national security of the United States.” 
Trump <a href="https://justthenews.com/politics-policy/all-things-trump/trump-says-he-will-designate-muslim-brotherhood-terrorist">previewed</a> the executive order on Sunday, telling Just the News that the final documents were being drawn up and that the action “will be done in the strongest and most powerful terms.”
Republicans in the House and Senate have <a href="https://www.dailywire.com/news/cruz-introduces-bill-to-name-muslim-brotherhood-a-terrorist-group">long pushed</a> for the Muslim Brotherhood to be designated as a terrorist organization. Last week, Texas Republican Governor Greg Abbott designated the Muslim Brotherhood, alongside the Council on American-Islamic Relations (CAIR), as foreign terrorist organizations.

President Trump Holds Press Conference With FBI Director Kash Patel

Trump Signs Executive Order Targeting The Muslim Brotherhood

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Marco Rubio

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Treasury Secretary Scott Bessent said on Sunday that the Trump administration’s economic strategy is centered on fixing “the three I&#8217;s: immigration, interest rates, and inflation,&#8221; adding that Americans are traumatized by Biden-era inflation.
“One thing we’re not going to do is what the Biden administration did — tell the American people they don’t know how they feel,” Bessent said. “They are traumatized by Biden-era inflation. We’ve slowed it, and we’re working very hard to bring it down.”
Bessent argued that immigration has been a major driver of high housing costs and wage stagnation. With the border closed and deportations underway, he expects home prices to fall and wages to rise. He pointed to October’s strong housing data as evidence, with home sales reaching their highest level in three years.
“The prices get better,” he said. “Energy prices, gasoline are down, we believe health care is going to come down. This will be the lowest cost for a Thanksgiving dinner in four years. Turkey prices are down 16%.”
While inflation ticked up to 3% from its 2.3% low earlier this year, Bessent insisted it remains under control. He noted that Federal Reserve Chair Jerome Powell has lowered interest rates by 0.50% this year and have another rate cut on the table for December.
Bessent credited the president’s peace agreements, tax reforms, and new trade deals as key drivers of future affordability. His remarks come days after Vice President JD Vance called on Americans to have “a little bit of patience” with the Trump administration’s economic strategy.
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Recent criticism has focused on rising prices for certain food products. NBC’s Kristen Welker asked Scott Bessent if the administration’s rollback on tariffs proves Trump’s trade policies are raising consumer costs.
Bessent dismissed the argument, saying inflation “is a composite number” with many moving parts, meaning overall inflation can remain stable even as some products fluctuate. He predicted broader price declines once United States Trade Representative Jamieson Greer finalizes new agreements in Latin America.
He also pointed to last week’s rollback on tariffs for more than 200 food products as proof that the White House is “pushing down the prices they can control,” rejecting claims that tariffs hurt consumers.
“Some prices will come down in weeks, some in months,” he said.
With major trade deals nearing completion, foreign peace negotiations wrapping up, and the One Big, Beautiful Bill tax reforms in place, Bessent said he is “optimistic for 2026.”

Bessent: Trump Admin Targeting ‘Three I’s’ To Restore Affordability

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Treasury Secretary Scott Bessent suggested that Republicans should end the filibuster if the Democrats attempt to once again shut down the government in January.
Speaking with Kristen Welker of NBC’s “Meet the Press” on Sunday, Bessent was asked about the viability of ending the filibuster.
“You call for an end to the filibuster. In the past, leader Thune has said that it&#8217;s just not happening. There aren&#8217;t the votes. Mr. Secretary, do you believe that you have enough votes, that the president has enough votes to get rid of the filibuster?” Welker asked.
Bessent responded, saying that his editorial, which was published in The Washington Post on Sunday, was designed to “put the Senate on notice.”
“The Democrats kept the government shut down — and Ezra Klein in The New York Times took the mask off. He said this wasn&#8217;t about health care; this was about stopping totalitarianism. The Democrats haven&#8217;t been able to stop President Trump in the courts; they haven&#8217;t been able to stop him in the media, so they had to harm the American people — 1.5% hit to GDP, $11 billion permanent hit. They don&#8217;t care. So I believe that Senate Democrats, if Senate Democrats close the government again, Senate Republicans should immediately abrogate the filibuster,” the Treasury secretary stated.
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &#8220;If Senate Democrats close the government again [on January 30], then Senate Republicans should immediately abrogate the filibuster.&#8221; <a href="https://t.co/IXTzdKMDwN">https://t.co/IXTzdKMDwN</a> <a href="https://t.co/XqJNXuJeNo">pic.twitter.com/XqJNXuJeNo</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1992611413903159675?ref_src=twsrc%5Etfw">November 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
In his Washington Post <a href="https://www.washingtonpost.com/opinions/2025/11/23/scott-bessent-treasury-senate-republicans-filibuster/">editorial</a>, Bessent laid out the history of the filibuster, arguing that it is a relic that no longer serves its intended purpose. “Today, the minority party can abuse the filibuster to the point of rendering the Senate almost useless as a deliberative body,” he wrote.
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“Some Republicans hesitate to end the filibuster out of fear that Democrats will one day use that same power against them,” Bessent noted. “But Democrats will use that power against them whether Republicans end the filibuster or not. GOP senators who defend the filibuster are ignoring basic game theory. As the classic prisoner’s dilemma shows us, in a repeated game, the player who always cooperates while the opponent who always betrays is doomed to lose.”

Bessent: Republicans Must Nuke Filibuster If Dems Attempt Shutdown Again

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Treasury Secretary Scott Bessent said on Sunday that the economy isn’t headed for a large-scale recession, despite certain sectors showing recessionary signs.
Speaking with Kristen Welker of NBC’s “Meet the Press,” Bessent was asked about the health of the economy.
“Big picture, Mr. Secretary, you said earlier this month, I&#8217;m going to quote you, ‘I think there are sectors of the economy that are in a recession.’ Kevin Hassett, Director of the National Economic Council, said: ‘We’re starting to see pockets of the economy that look like they might be in a recession.’ Which parts of the economy do you believe have dipped into a recession?” Welker asked.
“Well, clearly housing has been struggling … so interest rate-sensitive sectors have been in a recession,” Bessent replied.
The secretary then noted that the Democrat-led 43-day government shutdown wasn’t helpful to the economy, with nearly 10,000 flights canceled and a 1.5% hit to GDP.
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Welker pressed, asking if the entire country was at risk of entering a recession.
“No, I am very confident about 2026 because what we are going to see is the president has done peace deals, tax deals, and trade deals. The One Big, Beautiful Bill — and to go back to affordability, [it] has two components, so it&#8217;s price of goods and real incomes. So under the One Big, Beautiful Bill, especially for working Americans, no tax on tips, no tax on overtime, no tax on Social Security, auto deductibility on loans for American cars — that’s all kicking in,” Bessent said.
He also said that when Americans change their withholding, there will be “substantial refunds to working families in the first quarter of 2026.”
“I am very, very optimistic on 2026. We have set the table for a very strong, non-inflationary growth economy,” Bessent concluded.
<blockquote class="twitter-tweet" data-media-max-width="560">
Sec. Scott Bessent says big growth is coming in the Trump economy into 2026 <a href="https://t.co/64LP1f72k1">pic.twitter.com/64LP1f72k1</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1992612226897940744?ref_src=twsrc%5Etfw">November 23, 2025</a></blockquote>
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White House To Ratchet Up Russia Sanctions, Bessent Says

Bessent ‘Very Optimistic’ On U.S. Economy In 2026 Despite Recession Fears

Meet the Press

Recession

Treasury Secretary Scott Bessent promised on Wednesday that relief is coming to Americans at the grocery store, as the Trump administration plans to make &#8220;substantial announcements&#8221; on foreign food imports in the coming days.
During an interview with &#8220;<a href="https://www.foxbusiness.com/video/6385001023112">Fox &amp; Friends</a>&#8221; co-host Brian Kilmeade, Bessent predicted that Americans would soon feel much better about their finances and hinted that certain grocery store items would be coming down in price.
&#8220;When you look at affordability now, and you go grocery shopping, for example, what products are you working on bringing down?&#8221; Kilmeade asked. &#8220;We know that certain products are down, certain [products] are up. For example, coffee. The president said, &#8216;I&#8217;m going to lower tariff rates on Brazil and Vietnam and other places to try to bring the price of coffee down.&#8217; What else do you do?&#8221;
&#8220;Well, it&#8217;s tough to do a lot of specific things, but I can tell you that you&#8217;re going to see substantial announcements over the next couple of days in terms of things we don&#8217;t grow here in the United States,&#8221; Bessent replied. &#8220;Coffee being one of them. Bananas, other fruits, things like that. So that will bring the prices down very quickly.&#8221;
<blockquote class="twitter-tweet" data-media-max-width="560">
Sec. Scott Bessent: &#8220;You&#8217;re going to see substantial announcements over the next couple of days in terms of things we don&#8217;t grow here&#8230; coffee being one of them, bananas, other fruits&#8230; That will bring the prices down very quickly.&#8221; <a href="https://t.co/OlwFniutbk">pic.twitter.com/OlwFniutbk</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1988616150398214379?ref_src=twsrc%5Etfw">November 12, 2025</a></blockquote>
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Bessent&#8217;s comments are a rare moment in which the Trump administration appears to acknowledge that tariffs have negatively affected Americans&#8217; wallets in some circumstances. Last week, President Donald Trump also <a href="https://www.reuters.com/world/us/trump-shift-acknowledges-americans-are-paying-something-tariffs-2025-11-06/">admitted</a> that Americans are &#8220;paying something&#8221; due to his tariffs, adding, &#8220;But when you take the overall impact, the Americans are gaining tremendously.&#8221;
The average price of coffee in the United States has spiked in recent months after the Trump administration imposed hefty tariffs on countries around the world, including the leading coffee exporters. In September, the average price for a pound of ground coffee rose 3% from the previous month and jumped 41% from September 2024, the Associated Press <a href="https://apnews.com/article/coffee-prices-tariffs-climate-3503a37a8fc95b7dc5a1f29747c81e27">reported</a>. That increase has caused some coffee shops and grocery stores to hike prices. Banana prices have also risen slightly following the rollout of Trump&#8217;s tariffs.
Bessent said that the Trump administration is seeking to fix an &#8220;affordability mess&#8221; that began under former President Joe Biden.
&#8220;It was the worst inflation in 40-50 years, one of the worst in the nation&#8217;s history,&#8221; the Treasury Secretary added.
Bessent said the administration is working to address both affordability components: prices and income. He argued that by the first quarter of next year, Americans will see prices decline while their wages rise.
&#8220;You are going to feel it,&#8221; Bessent said, adding, &#8220;I think 2026 is going to be a blockbuster year.&#8221;
Trump&#8217;s tariffs are currently hanging in the balance as the Supreme Court considers whether the president can use his broad authority over foreign policy to impose tariffs on countries worldwide. Last week, the Supreme Court heard oral arguments on the case, with multiple conservative justices appearing skeptical of the president’s authority.

Scott Bessent/Grocery Store

Bessent Promises Major Food Import Moves To Cut Grocery Prices ‘Very Quickly’

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