USA borrowing binge about to burst?
In early 2019, Olivier Blanchard, the former head of the International Monetary Fund, suggested that there was no fiscal cost to the United States from running ever-bigger budget deficits. The federal government could essentially grow its way out of overspending, and investors could be confident in the continued safety of the Treasury bonds used to finance those deficits. This sanguine view of the United States’ fiscal health was not unusual…

