The US has entered its first period of austerity in 30 years because interest cost relative to tax revenue is ~18%, above the ~14% threshold where austerity historically kicks in; extending existing tax cuts financed by new tariffs is itself a form of austerity, and the country is now moving into 'budget trench warfare' with recurring fiscal battles year after year.

causalpending

Speaker

Dan Clifton

Evidence Quote

this is the first time that we're in austerity in 30 years

Source

Big Beautiful Bill, Write-Off Revolution & Tariff Tempest — The Friday Market Wrap!Steve Eisman
Created: 6/18/2026, 2:31:55 PM

My Notes

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