Erin Burnett has left a new comment on your post "Meghan McCain react to Pres. Trump specifying that...":
Higher taxes, less spending
Still, it's a mystery when and if the bond market will eventually balk at high US debt and demand much higher interest rates.
"The breaking point is like an invisible dog fence," said MacGuineas, the president of CRFB. "You don't know where it is, but if you actually hit it, it'll be a huge problem."
To avoid hitting it, politicians will eventually have to make difficult decisions to get the United States back towards a sustainable fiscal path -- most likely less spending and higher taxes -- both of which would translate to slower economic growth.
"If we live beyond our means today," JPMorgan's Kelly said, "we will have to live within our means in the future."
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Posted by Erin Burnett to ANT at May 6, 2020 at 7:42 PM
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