Yet another Hacker News

10-year Treasury yield climbs above 5.3% to a level not seen in 24 years

30 points kaycebasques 34 minutes ago 6 comments

valleyer 6 minutes ago | parent

Oy. I'm no fiscal conservative, but the US federal government absolutely needs to balance its budget. Otherwise, it's bound to either choke on interest payments, devalue the dollar, or both.

Unlike most Trumpists, I see the the problem as a revenue issue, not expenditures; unlike many non-Trumpists, I doubt "tax the rich" is going to be enough to plug the hole.

Government healthcare payments would be a good start -- it seems likely that the amount most employees already (effectively) pay for health insurance could fund equivalent government coverage with some money left over to help pay for other government expenses.

consumer451 4 minutes ago | parent

I am getting way too old for this. No more "both sides." Look at the data. If you want a balanced budget, there is one party to avoid.

margalabargala 1 minute ago | parent

I'm unconvinced that "balance the budget" is the issue here.

Interest rates are a function of inflation and joblessness. Both of which the current administration has created via terrible (for the country; great for the family members of the administration) policies.

The terrible policies are destroying jobs and causing the prices of goods to go up, thus increasing interest rates. The administration could balance the budget, but that would not correct the interest rate problem unless they also stop enriching themselves at the expense of the rest of the country.

missedthecue 3 minutes ago | parent

In 2026, entitlement spending + interest expense will be over 100% of federal tax revenue.

That's before the military, foreign aid, and everything that starts with "Department of"

gradus_ad 2 minutes ago | parent

Stocks keep marching higher. And it's not irrational. Because the only way out of this mess (debt with high rates) is inflation.