Politics Wins Over Fiscal Debate

The "Big Beautiful Bill" (BBB) encompasses a political and fiscal debate, similar to all prior debates concerning tax legislation and budgetary policy. Politics invariably takes precedence over fiscal concerns, and if there's any doubt about which side prevails, one need only consider the US's current outstanding debt of $37 trillion. Politics will dominate the debate over "BBB," and the US could see its outstanding debt bill reaching $50 trillion within the next decade. The renowned US economist Herb Stein once remarked, “If something cannot continue indefinitely, it will come to an end.” However, when it comes to US debt, has Mr. Stein finally encountered an exception, or has he not?