Scott Bessent: The Fed Is Turning Into Universal Basic Income For PhD Economists…They're Never Right

Posted • December 8, 2025: Treasury Secretary Scott Bessent is guaranteed to make liberals’ lives miserable when he goes on television. Prepare for war, because Bessent will skewer you if you’re not prepared. He knows the Left’s playbook, along with his own, and can deliver the one-two punch with ease. On Sunday, CBS’ Face the Nation’s Margaret Brennan was probably not expecting this line he dropped about the investigation into the reported fraud among Somali charities. Anywhere from $1 billion to $8 billion was allegedly wired to terror groups. Bessent said the official investigation started a week ago: Secretary Bessent goes toe-to-toe with Margaret Brennan over the exploding Somali fraud scandal in Minnesota. Bessent revealed that Treasury is now tracking money that was moved out of the U.S. to the Middle East and Somalia — by individuals tied to the scheme. And he ended his appearance with a line Brennan clearly didn’t expect.

Bessent: “To be clear, the initial fraud was discovered by the IRS, for which I’m the acting commissioner, it was discovered by IRS criminal investigations unit.” - “This was not endogenous that the state of Minnesota decided. We had to go in and clean up the mess for them. This is part of the continued cleanup.” - “A lot of money has been transferred from the individuals who committed this fraud, including those who donated to the governor, donated to representative Omar and to AG Ellison.” - “They have been transferred to something called MBSs.” - “They are wire transfer organizations that are outside the regulated banking system. That money has gone overseas. We are tracking that, both to the Middle East and Somalia to see what the uses of that have been.” —— Brennan: “You have no evidence of that money being used to fuel terrorism at this point? Which is what some conservative writers are alleging.”

Bessent: “That’s why it’s an investigation. We started it last week. We will see where it goes.” - “I can tell you, it’s terrible. Representative Omar tried to downplay it. Said it was very…it was very tough to know how this money should be used. She was gaslighting the American people.” - “When you come to this country, you have to learn which side of the road to drive on, stop at stop signs and learn not to defraud the American people.” —— That’s a mic drop. The man is full of zingers, and like Trump, has no shortage of them when the time comes. —— Bessent: “The Fed is turning into universal basic income for PhD economists. I don't know what they do. They're never right … If air traffic controllers did this, no one would get in an airplane.” 🤣

Townhall: Scott Bessent Dropped a Helluva Line During His Appearance on Face the Nation
https://townhall.com/tipsheet/mattvespa/2025/12/08/scott-bessent-dropped-a-helluva-line-during-his-appearance-on-face-the-nation-n2667512
Rumble: Scott Bessent Brings The Fire On The MN Fraud Scandal…Ilhan Omar Gives Bad Answers To Good Questions
https://rumble.com/v72q65g-scott-bessent-brings-the-fire-on-the-mn-fraud-scandalilhan-omar-gives-bad-a.html
Rumble: Scott Bessent Dropped A Helluva Line During His Appearance On Face The Nation
https://rumble.com/v72rnty-scott-bessent-dropped-a-helluva-line-during-his-appearance-on-face-the-nati.html