Michael Strain on Averting the Looming Debt Ceiling Disaster
Macro Musings with David Beckworth
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Low Financing Costs Makes It Easier for Congress to Do Anything
High interest rates are making this issue even more pronounced. It's possible, depending on your view, that rates will fall once we get to the other side of high inflation. If financing costs are low, you can continue to borrow without really filling the constraint of a tighter budget. So it is important to get some kind of meaningful program of cuts going over the long term.
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