GOP bill locks in new deficit plateau as bond market quakes

May 24, 2025 - 17:00
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GOP bill locks in new deficit plateau as bond market quakes
Republican budget hawks got steamrolled this week as the House passed a bill to advance President Trump’s agenda, sending concerns though financial markets about permanently higher U.S. deficit levels.  Following the pandemic, the U.S. national debt ratcheted up to a new plateau of around 120 percent of gross domestic product (GDP) after the government sent…