Independent macro research & analysis on fiscal flows, Federal Reserve & Treasury operations, and balance-sheet mechanics.
Joined May 2018
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Modern Macro Technologies retweeted
In a crazy bit of irony, only MMT sees this massive amount of deficit spending as inflationary while the rest of mainstream macro sees this as deflationary.
BREAKING: US annual interest expense is up to a record 18.5% of federal government revenue.
This is officially above the previous record of 18.4% set in 1991.
This percentage has more than QUADRUPLED over the last 4 years as interest expenditures on public debt skyrocketed.
US annual interest expense now stands at a record $1.25 trillion, more than 4x the level seen in 1991.
Meanwhile, the 30Y Treasury yield is trading at ~5.21%, just 13 basis points from its highest level since 2007.
By comparison, the 30-year yield was oscillating at ~8.00% in 1991, underscoring how much the US debt burden has grown since then.
The US debt crisis is in uncharted territory.
Modern Macro Technologies retweeted
Market Update is live!
Steady climb higher as expect... but we're getting close to some real fun!
And how Bessent could actually bring rates down.
appliedmmt.com/08-27-2026-ma…
