The True Drivers of the U.S. National Debt: Policy, Tax Cuts, and Economic Impact - The Fulcrum
The True Drivers of the U.S. National Debt: Policy, Tax Cuts, and Economic Impact - The Fulcrum
Source: The Fulcrum
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DW NOTE
The deficit hit $1.4 trillion through June — 3% above last year — and the piece blames "policy and tax cuts." Fair enough, but those same policies produced the revenue that funded the spending, and the piece ignores the denominator: deficits matter relative to growth, not in absolute terms. At 6% of GDP with 10-year TIPS at 2.70%, the market is pricing mild concern, not crisis.