Thread

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

122 points · 193 comments · kaycebasques

guelo · 1790821629 · focus · HN ↗
It's weird how the discussion on this rarely mentions Trump's giant 2017 and 2025 tax cuts, plus the insane increase in military spending. Somehow it's always about we need to cut entitlements.
People need to study this graph <a href="https://fred.stlouisfed.org/series/FYFSD" rel="nofollow">https://fred.stlouisfed.org/series/FYFSD and think about what changed when.
1. josephcsible · 1790825509 · focus · HN ↗
  That's because even fully undoing those things wouldn't be sufficient to fix the deficit. When federal revenue is $5 trillion, entitlements cost $4 trillion, and interest on the existing debt is $1 trillion, you just fundamentally can't balance the budget without cutting entitlements. All of the revenue is already spoken for before funding anything in the rest of the government!
  1. [deleted] · 1790828339 · focus · HN ↗
    [deleted]

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