
Last week, I lamented permanent tax credits that balloon the national debt, drive up interest rates, and exponentially increase borrowing costs. Two things have happened since: The House passed its version of the "One Big Beautiful Bill Act" (OBBBA), which took the shears to "clean energy" and storage tax credits (except for sacrosanct ethanol), and Due to the ineffectiveness of the bill in slashing the deficit, the premium on the 10-year treasury over short-term maturity securities has increased to its highest level in 11 years. The rate on the 30-year treasury is at its highest in 20 years. These higher…
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