Premium to Humility (guest: Neil Azous)
The Market Huddle
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The Fiscal Austerity of the Debt Ceiling Deal
Fiscal austerity is actually what you should be worried about with the debt ceiling. The Republicans are asking for $4 trillion over 10 years of cuts and Democrats don't want to do any of that. If there's a debt ceiling that's breached technically, okay, that seems bad. Lots of money will go into the front end of the yield curve because nobody wants to sit on paper that matures in five and ten years when the US could be dead in that period of time.
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