The director of the Congressional Budget Office is sounding the alarm on the U.S. government’s unsustainable fiscal path. Philip Swagel issued his warning in an interview with Claire Jones of the Financial Times.

“Phillip Swagel, director of the Congressional Budget Office, said the mounting US fiscal burden was on an “unprecedented” trajectory, risking a crisis of the kind that sparked a run on the pound and the collapse of Truss’s government in the UK in 2022.

““The danger, of course, is what the UK faced with former prime minister Truss, where policymakers tried to take an action, and then there’s a market reaction to that........

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