Treasury Secretary Scott Bessent said the US ended the fiscal year of 2025 with a lower deficit-to-GDP ratio than the year before and sounded an optimistic note for 2026, noting that the US is on its way to lowering deficits without causing a recession. The Treasury has not been able to release the exact fiscal 2025 deficit-to-GDP figure due to the government shutdown, but Bessent cited the Congressional Budget Office when making his claim Thursday that the key ratio was lower in the fiscal year ending Se ...