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Even with very generous assumptions the US is in a huge fiscal hole. This thread does the accounting. With democrats in "whatever it takes" mode, and no republican in tax cutting modeit is hard to imagine a politician closing that hole.
RT @HannoLustig: 📣The secular decline in rates may not have boosted U.S. fiscal capacity as much as you think, but it definitely has exposed the U.S. Treasury to more interest rate risk. 🧵
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