The “Worst Fiscal Blunder” in US Treasury History

Source: Independent Institute
by Craig Eyermann

“On Halloween 2023, hedge fund manager Stanley Druckenmiller identified what he called the ‘worst fiscal blunder’ in the history of the U.S. Treasury. That blunder occurred in the early months of the Biden administration and accelerated the U.S. government’s unsustainable fiscal path. … Missing that obvious opportunity in early 2021 to lock in low interest rates for the large amount of debt the U.S. government had accumulated at that point in time is a massive blunder. But the administration’s fiscal mismanagement didn’t stop there. The costs of that bureaucratic failure will be felt for years to come.” (06/07/24)