Hard choices - Support a strong reserve currency or rebalance the trade of goods? Finance economic growth tomorrow or federal debt today? Policies timed to perfection will avoid gridlock if time allows...
U.S. financial credibility is like a dam, holding back the rising waters of federal debt but explosive growth of interest expense already concentrates the attention - how about righting the ship ?
U.S. Government deficits are all about interest expense on the debt. A fast-growing debt load fed into increasing rates, pushing interest expense upward, doubling between 2021 and 2024, and taking in 25% of federal tax income. More to come ?