US Fiscal Path Will Rattle the Rafters

As we’ve reported, the US government is spending money like a drunken sailor. But nobody really seems to care.

Since Nov. 8, the US national debt has risen $1 trillion. Meanwhile, the Russell 2000 (a small-cap stock market index) has risen by 30%. Former Reagan budget director David Stockman said this makes no sense in a rational world, and he thinks the FY 2019 is going to sink the casino.

In a rational world operating with honest financial markets those two results would not be found in eve...