Focus on the Bigger Picture and Long-term Effects of Deficits

The market is currently preoccupied with incremental data points like treasury borrowings and bond sales, which are distractions from the larger issue of excessive borrowing and lack of fiscal responsibility. Despite historical warnings about deficits causing problems like inflation and crowding out private investments, these risks have not materialized in the past few decades. It is argued that the deficit may not need to be the top priority, and there is a call to consider the long-term risk factors associated with it.