Debt jumps $366B in one day. Treasury says $300B in tariffs incoming. Markets now expect $46T debt by 2028. Both sides failed to stop the clock.
The fiscal alarm bells aren’t hypothetical anymore. Financial markets are now operating under a base case scenario that expects the United States to add another $10 trillion in debt by 2028. That would put total federal debt at $46 trillion, up 100% from 2020. On July 9, the debt increased $366 billion in a single …