Unfortunately I think the new "conventional" wisdom in Washington is deficits don't matter. They are printing and borrowing money at record rates, yet inflation and demand for treasuries hasn't been significantly affected, which only emboldens Washington to spend more. But you are absolutely correct, when the inevitable sets in it will be too late as they scramble in vain to trim $1T+ deficits PLUS another $400B or so in debt service.Manhattan Buckeye;1160890 wrote:At some point the money funding this ends. We've reached that point.
The next big bubble is forming in USD/Treasuries.