Thread

10-year Treasury yield climbs above 5.3% to a level not seen in 24 years

122 points · 193 comments · kaycebasques

GenerWork · 1790821127 · focus · HN ↗
The primary issue is Social Security. It’s the biggest driver of spending, and nobody wants to do anything to cap its costs such as means testing or straight up lowering the amount it can pay out.
As for the people that will inevitably bleat about how this is just horrible and we need to lift the cap on taxable SS income, that wouldn’t solve the core problem either unless you pair it with spending caps or cuts.
1. glimshe · 1790822049 · focus · HN ↗
  "Means testing" is the bad Social Security idea of the year. SS isn't a welfare program. Trimming benefits, changing retirement date (for all) and uncapping contributions are much more palatable to voters.

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