Use Debt Ceiling Deadline to Stop Inflationary Borrowing Spree | RealClearPolitics

Use Debt Ceiling Deadline to Stop Inflationary Borrowing Spree

Use Debt Ceiling Deadline to Stop Inflationary Borrowing Spree

For 25 years, I traded U.S. Treasury debt for financial institutions on Wall Street. For the last 20 years, since 9/11, America has borrowed a staggering amount of money. First to finance the War on Terror, then to bail out the housing sector, and most recently to fund enormous COVID pandemic expenses. Like a lot of bond market pros, I always wondered when America would hit the break point, when the borrowing binge would finally become painful.

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