Oh my expectations are in line with yours, I have no illusions on how things are likely to go either way. Next to no one has the political willpower to get spending under control, even those who would actually like to see progress there.I don’t think there’s any reason to be hopeful that our lawmakers are going to do a course correction on this. And, if you think our fiscal imbalance has been bad to this point, check out the forecasts.
Maybe they’ll nibble at the edges. But no more than that.
I fully expect them to rely on the Fed to finance it through monetary expansion…which invariably comes at a cost to our standard of living, and hits hardest on people who have no choice but to use every dollar they get (and then some) on necessity consumption.