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Posts Tagged: “Bessent“
Using Tariffs to Reduce the Deficit? Not So Fast
After posturing to use tariffs to eliminate income tax, the Trump administration has now shifted to a narrative that they’ll pay off deficits. Both promises are hollow. Deficits as massive and persistent as ours demand massive Treasury issuance. That means markets have to absorb ever-larger supply, pushing yields higher if demand fails to keep up. […]
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Bessent is Right: The Economy Needs a Detox
Treasury Secretary Scott Bessent is right when he says that the economy needs a “detox.” To fix the problems created by decades of artificially-low interest rates, soaring deficits, out-of-control spending, a dying manufacturing base, and central bank meddling, there has to be a little bit (or a lot) of pain.