Budget deficit

I do want to make sure we’re clear that the budget deficit has no effect on interest rates currently. It could if there were no buyers of our debt and if it continues upward it could get so high that we couldn’t do much about it but raise rates. So it is a concern.

I think that it’s difficult to keep them separate as the politicians want to take too much credit for their input into the economy and that goes double in a Presidential Election year.

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