29 June 2023
Bidenomics continues the reckless trend of excessive spending and borrowing, pushing bond yields higher and burdening taxpayers. The surge in Treasury bills is just the beginning, with escalating debt issuance and rising interest payments spelling trouble for the economy. The market’s complacency and the Treasury’s need to increase auction sizes across the yield curve point to a grim future. The long-term consequences of unsustainable debt loom large, trapping the economy in a vicious cycle.