Why US borrowing could soon eclipse Greece and Italy as world drowns in debt
https://www.telegraph.co.uk/business/2024/12/24/why-us-borrowing-eclipse-greece-and-italy-word-drowns-debt/
America now owes more money than the value of its economy – which should worry us all.
https://www.telegraph.co.uk/business/2024/12/24/why-us-borrowing-eclipse-greece-and-italy-word-drowns-debt/
America now owes more money than the value of its economy – which should worry us all.
Cutting the Deficit Is Easy—It’s Just Unpopular
https://www.wsj.com/politics/policy/how-to-cut-deficit-budget-trump-doge-11e287c6
Bureaucrats aren’t driving the deficit. The culprit is the checks they send out that people happen to love.
https://www.wsj.com/politics/policy/how-to-cut-deficit-budget-trump-doge-11e287c6
Bureaucrats aren’t driving the deficit. The culprit is the checks they send out that people happen to love.
George Soros’ 1980s US debt warning echoes today
https://www.reuters.com/breakingviews/george-soros-1980s-us-debt-warning-echoes-today-2024-11-08/
Felix Martin:
Finally, there is the U.S. method of navigating the fiscal trilemma: increase public spending, cut taxes, and hope that financial stability will take care of itself. Leaving aside the small matter of a 20% hike in the price level over the past four years, that formula has worked nicely of late. Entranced by the United States’ still unrivalled geopolitical and financial supremacy, investors have thus far been willing to overlook the country’s equally supreme deficits and debt.
Yet even that spell won’t hold forever. At some point, U.S. bond holders will revolt too. With the yield on the 30-year Treasuries up about 70 basis points since the Federal Reserve’s mid-September rate cut, the reckoning may be closer than many realise.
https://www.reuters.com/breakingviews/george-soros-1980s-us-debt-warning-echoes-today-2024-11-08/
Felix Martin:
Finally, there is the U.S. method of navigating the fiscal trilemma: increase public spending, cut taxes, and hope that financial stability will take care of itself. Leaving aside the small matter of a 20% hike in the price level over the past four years, that formula has worked nicely of late. Entranced by the United States’ still unrivalled geopolitical and financial supremacy, investors have thus far been willing to overlook the country’s equally supreme deficits and debt.
Yet even that spell won’t hold forever. At some point, U.S. bond holders will revolt too. With the yield on the 30-year Treasuries up about 70 basis points since the Federal Reserve’s mid-September rate cut, the reckoning may be closer than many realise.
Trump is in danger of falling into the Truss trap
https://www.telegraph.co.uk/business/2024/11/09/trump-is-in-danger-of-falling-into-the-truss-trap-us-debt/
If there is any domestic risk in the US that could tip over into a full-blown crisis, it’s debt.
https://www.telegraph.co.uk/business/2024/11/09/trump-is-in-danger-of-falling-into-the-truss-trap-us-debt/
If there is any domestic risk in the US that could tip over into a full-blown crisis, it’s debt.
My take from 2023:
Fitch’s downgrade of US debt wasn’t a mistake — it was long overdue
https://thehill.com/opinion/finance/4138215-fitchs-downgrade-wasnt-a-mistake-it-was-long-overdue/
America’s long-term fiscal sustainability challenge
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/
Fitch’s downgrade of US debt wasn’t a mistake — it was long overdue
https://thehill.com/opinion/finance/4138215-fitchs-downgrade-wasnt-a-mistake-it-was-long-overdue/
America’s long-term fiscal sustainability challenge
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/