Peter Schiff, a well-known American economist, wrote last night (Beijing time on the evening of September 5): "Trump is renaming the Department of Defense as the Department of War, and Pete Hegseth will serve as the Secretary of War. At the same time, Trump should also rename the Treasury Department as the Debt Department, with Scott Bessent serving as the Secretary of Debt. These two names seem more appropriate."
[Clever] Comments: Peter Schiff had previously explained that since the U.S. government only has "debt" and not "finance," calling it the Debt Department is more appropriate. The U.S. government is burdened with mountains of debt but still spends recklessly. Although the name "Debt Department" sounds harsh, it truthfully reflects the deeply flawed finances of the United States. Peter Schiff's words may seem exaggerated, but they are a sharp critique, which is also a form of sobering criticism. In addition, some American economists are very dissatisfied with Trump's implementation of global "reciprocal tariffs," and Peter Schiff is one of the representatives.
Original text: www.toutiao.com/article/1842464943438852/
Statement: This article represents the views of the author.