NEW YORK, August 21. /TASS/. US Secretary of the Treasury Scott Bessent is implementing a plan that will allow the country’s economy to grow faster than its state debt, Vice President J D Vance has told Newsmax.

"Scott Bessent, the amazing Treasury secretary, he has had a very discreet plan -- of course, supported by the president of the United States -- to get the United States to a point where our economy is growing faster than our debt," he was quoted as saying.

He did not disclose details of the plan, but said the US administration is working on this problem "every single day."

Earlier this week, the US state debt exceeded record $40 trillion, increasing by $20 trillion in less than 10 years. The International Monetary Fund (IMF) projects the US GDP growth to be at 2.3% in 2026.