#deficit

Original post on mindly.social (mindly.social)

Once upon a time, it was an absolute political and economical scandal when the US government ran up an annual deficit of a trillion dollars. [1] Under Trump's tax cuts for the rich and bloated spending for his pet projects and well-connected contractors, the USA just ran up a $432 billion […]

1 Bloomberg: The bond market’s message to Scott #Bessent couldn’t be clearer: If you want #financing for the growing #US #deficit, you’re going to have to pay up. The US sold $25 billion of 30-year bonds yesterday at 5.216%, the highest #interestrate in a quarter century. 🧵