With so much going on these days — on multiple fronts — it’s difficult to keep up with it all. On Tuesday alone, there were multiple cabinet secretaries testifying before Congress, President Donald Trump made multiple appearances, commenting on everything from trade to FIFA, the Houthis cried “Uncle!”, and India and Pakistan appear primed to bust out into an all-out war.
All of which is to say: I didn’t have an opportunity to watch Treasury Secretary Scott Bessent’s testimony before the House Appropriations Financial Services and General Government Subcommittee oversight hearing live. But looking back over some of the key moments, one was particularly jaw-dropping:
According to Bessent, over one-third of the 1.5 billion payments issued by the Treasury Department in the past year cannot be traced back to a corresponding appropriation. That’s 500 million…
