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2min chapter
America’s ‘Debt Spiral’ Is Nearing a Critical Threshold
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The Political Challenges and the Role of Treasury Bonds in the US Debt Spiral
This chapter discusses the lack of political will in Washington to address the growing deficit and the challenges of passing basic spending bills, using the example of how President Bill Clinton's administration was pressured to address unsustainable spending in the 90s and its impact on the treasury bond market. It emphasizes the significance of treasury debt in the global economy and the importance of fiscal responsibility for economic stability.
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