Is the U.S. bond market rejecting the fiscal state of the country? Is it declaring doom and gloom? Is it begging us not to do this “big, beautiful bill”? Or, is the fiscal state of the country deeply troubled? Is the new bill a big disappointment, but the bond market is saying no such thing (for reasons you deserve to understand)? In this very important Capital Record, David makes the argument that those wrongly declaring some form of bond market revolt are hurting the cause of fiscal reform, undermining credibility, and making it harder for the real needs we have to be addressed. This rejection of crying wolf comes at a very important time for this woefully managed country!
