With long-term interest rates surging in the past few weeks, a fiscal reckoning could now be approaching — faster and sooner than anyone in Washington is prepared for. Let me guess: You’ve heard this story before. For decades, scolds have warned that running huge budget deficits year after year was “unsustainable,” and yet for a long time, the situation kept, well, sustaining itself. Email: crampell@washpost.com. Read the full opinion at The Washington Post.

Source: Washington Post October 11, 2023 13:27 UTC