“The U.S. debt-and-deficit situation is bad and facing real prospects of getting worse, triggering a high-profile credit rating downgrade from Moody’s and another selling stampede in stocks and bonds,” CNBC reports.
“Whether the recoil in financial markets continues is largely in the hands of policymakers who seem intent on adding to the U.S. fiscal problems in the name of stimulating growth through President Donald Trump’s ‘big, beautiful’ spending bill.”
Bloomberg: Bond market warns Trump, Congress on dangers of swelling deficit.
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