Surveillance: Bear Market with Wilson
Bloomberg Surveillance
00:00
The Treasury Department's X-State
We have seen historically that once those rates hit 14% of tax revenues, financial markets begin to impose austerity on policymakers. We are currently at 12.7% and we anticipate that we will get to 14% by the end of the year. That's going to start to squeeze the federal budget. So even if this deal is not particularly austere, which given the current contours, it doesn't seem like it will be.
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