Don’t laugh. US spiral of deficits and debt

 

One of the best, and maybe only ways, for the US to arrest its spiral of deficits and debt is a new bipartisan fiscal commission.

Granted, in today’s hyper-polarized political climate, calling for bipartisan consensus-building seems absurd.

Stabilizing the debt ratio, never mind reducing it, would require tax increases and/or spending cuts amounting to $9 trillion over the next 10 years. 

This optimistically assumes that Congress does not extend most of the tax cuts introduced by the 2017 Tax Cuts and Jobs Act, which both parties currently seem inclined to do.

Clive Crook Bloomberg 13 januari 2025

https://www.bloomberg.com/opinion/articles/2025-01-13/surging-bond-yields-make-a-strong-case-for-us-fiscal-sanity

America’s sovereign-debt spiral

https://englundmacro.blogspot.com/2025/01/americas-sovereign-debt-spiral.html