Biden sees opportunity to spend freely thanks to low interest rates

The Biden administration will have greater scope to spend on programs even despite the recent spike in federal debt, a top campaign economist said, because of falling interest rates.

“The next president will have high levels of overall debt but low debt service levels, which will grant the administration more space to execute their agenda,” said Jared Bernstein, one of Joe Biden’s top economic advisers.

Congressional Budget Office projections from last week show that the federal…

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