Anyone who has carried a balance knows the small relief of moving it. The amount does not shrink. The due date moves, the pressure lifts, and it becomes easy to read that quiet as progress.
It usually is not. The arithmetic has only been rescheduled, and rescheduling carries its own price.
Washington runs on that instinct at a scale that makes the household version look tidy. The government has spent 2026 raising money from a market that keeps demanding more in return for lending.
The 30-year Treasury yield hit a 19-year high of 5.34% on Aug. 18, according to Reuters. The following morning, outstanding public debt exceeded $40 trillion for the first time, NBC News reported.
Treasury Secretary Scott Bessent responded the way an activist Treasury chief does. He stepped in.
#anyone #bessent
It usually is not. The arithmetic has only been rescheduled, and rescheduling carries its own price.
Washington runs on that instinct at a scale that makes the household version look tidy. The government has spent 2026 raising money from a market that keeps demanding more in return for lending.
The 30-year Treasury yield hit a 19-year high of 5.34% on Aug. 18, according to Reuters. The following morning, outstanding public debt exceeded $40 trillion for the first time, NBC News reported.
Treasury Secretary Scott Bessent responded the way an activist Treasury chief does. He stepped in.
#anyone #bessent
24 days ago
