August 2, 2020

YOU CAN SPEND WITHOUT LIMIT UNTIL YOU HIT THE LIMIT, AND NOBODY KNOWS WHAT THE LIMIT IS: U.S. Gets a Debt Warning From Fitch as Stimulus Battle Rages.

I’m just as worried about the debt as ever, but I’ve come to the sad conclusion that nothing will be done until our hand is forced by something catastrophic. Fair chance that will happen this decade, but who knows? People have been talking debt catastrophe for my entire lifetime and so far nothing. I wish that meant that debt catastrophe will never come, but I have my doubts.

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