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

122 points · 193 comments · kaycebasques

  1. valleyer · · focus · HN ↗
    Oy. I'm no fiscal conservative, but the US federal government absolutely needs to balance its budget. Otherwise, it's bound to either choke on interest payments, devalue the dollar, or both.

    Unlike most Trumpists, I see the the problem as a revenue issue, not expenditures; unlike many non-Trumpists, I doubt "tax the rich" is going to be enough to plug the hole.

    Government healthcare payments would be a good start -- it seems likely that the amount most employees already (effectively) pay for health insurance could fund equivalent government coverage with some money left over to help pay for other government expenses.

    1. consumer451 · · focus · HN ↗
      I am getting way too old for this. No more "both sides." Look at the data. If you want a balanced budget, there is one party to avoid.
      1. bryzaguy · · focus · HN ↗
        Since Bill Clinton and Lyndon B Johnson were the only two presidents to see a balanced budget I can guess which party you mean.
        1. consumer451 · · focus · HN ↗
          Sorry for misspeaking. What I should have said is that "If you want anything approaching a balanced budget in modern times..."

          The facts are that surpluses were routine before the 1960s, under both parties. Since then, not so much.

          1998 was the first year the United States government recorded a budget surplus since 1969 [0] (Clinton with a GOP Congress).

          Since 1981, the deficit deepened under Republican administrations and shrank under Democratic ones [1]

          That aligned with the creation of a right-specific media system where "Republicans don't fight Republicans" - so there can never be any internal accountability.

          [0] <a href="https:&#x2F;&#x2F;clintonwhitehouse3.archives.gov&#x2F;WH&#x2F;New&#x2F;html&#x2F;19981028-13004.html" rel="nofollow">https:&#x2F;&#x2F;clintonwhitehouse3.archives.gov&#x2F;WH&#x2F;New&#x2F;html&#x2F;19981028...

          [1] <a href="https:&#x2F;&#x2F;www.yahoo.com&#x2F;news&#x2F;articles&#x2F;fact-check-us-deficit-grown-110000769.html" rel="nofollow">https:&#x2F;&#x2F;www.yahoo.com&#x2F;news&#x2F;articles&#x2F;fact-check-us-deficit-gr...

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