The primary purpose of this report is to graphically show what so many Republican
leaders have repeatedly stated, including President Trump in his November 2, 2011 tweet
‘Washington has a spending problem, not a revenue problem.”1 Fueled by spending levels tha
exploded during the pandemic but never receded, our fiscal situation is far worse than when
President Trump posted that tweet in 2011. These two charts illustrate that spending explosion:
Lauren Fedor and James Politi:
“Look at the bond market. These are pretty smart, sophisticated people, and they are a little more reluctant to buy US bonds, or are ploughing money into gold or other currencies,” Johnson said. “That ought to concern people.”
Asked whether Federal Reserve chair Jay Powell should lower interest rates as Trump has demanded, Johnson said it was no longer up to the US central bank boss.
“It is beyond his control. The bond buyers are controlling this now.”
The spending bill narrowly passed through the House of Representatives last month and Trump wants to enact it by July 4. Johnson said the timeline was “pretty optimistic”.
—-
more.
