The Bond Market Issues World Leaders a Failing Grade [WSJ]“The world is awash in debt…and the only way for us to get out of this is to grow our way out of this,” [U.S. Treasury Secretary Scott] Bessent said at the start of the summit…. This is not a credible solution. First, growth hasn’t come to the rescue yet. U.S. GDP is up 2.1% in the past 12 months, in line with Joe Biden’s last year in office. The federal deficit is likely to top 6% of GDP this fiscal year, in line with or higher than in B...
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