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But we saved everything 🙂.
Marc Goldwein highlights the continued rise in yields, noting they are now more than half a percent above previous projections.
He suggests that if this trend persists, the U.S. could see its debt increase by almost $2 trillion over the next decade.
Earlier this year, Goldwein estimated that a 1% increase in interest rates could add $3.5 trillion to U.S. national debt. He has also projected that nominal growth may average 3.5% to 4% in the long term if inflation returns to target, with a 3% GDP deficit helping to ease overall debt. The latest rise in yields adds to these previous concerns about the fiscal outlook.