Is the Trump Treasury panicking over the level of US debt?

The US federal deficit is approaching 6% of GDP, while the national debt has soared past $40 trillion, suggesting a troubling fiscal outlook, according to Bessent. An ex-mentor warns that the Trump Treasury may be on the verge of losing the battle against bond markets. America stands as the world's largest debtor, and the persistent increase in global long-term interest rates is generating tangible challenges.

Until recently, Treasury Secretary Scott Bessent has dismissed worries about US debt, asserting that the country's growth will be so robust that it will effortlessly handle its interest obligations without significant tax hikes or spending reductions. However, if Bessent genuinely holds this belief, the puzzling move to manipulate the maturity structure of government debt to exert pressure on the bond market comes into question.