Why I am more worried about Europe than the US

Is the fiscal debate political or market-driven?
The eponymous debate in the US over government spending, debt and deficits is whether the issues are fundamentally market-driven or politically-motivated. For example, recently Trump economic advisor Larry Kudlow told the Economic Club of New York that “We have to be tougher on spending” and went on to make the case for cutting Social Security and Medicare in order to get tougher on spending.

Now, is Kudlow making the case for the bond market vig...


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