Will Political Reality Derail Markets’ Bet on Donald Trump?
The Committee for a Responsible Federal Budget estimates that Trump’s plans would add $5.3 trillion to the federal debt over the next decade.
House Republicans, in particular, don’t like that kind of number, and that has the potential to mess with both tax-cut and infrastructure plans. Look for a moment of truth in mid-2017, when a Republican president and a Republican Congress have to agree on a plan to raise the federal debt ceiling or face a market-rattling default on American debt.