Fiscal Stability

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U.S.: Stumbling Toward Fiscal Stability

LONDON | By Barry Knapp at Barclays | Tuesday night’s two-year budget agreement between the heads of the House and Senate Budget Committees, Paul Ryan and Patty Murray, looks to be the culmination of a difficult process that has succeeded in stabilizing the US federal government fiscal position for the investable horizon. We have maintained that, since 2010, public policy uncertainty – stemming in part from government spending reaching a post-WWII high, and the associated budget deficit –has helped weaken business confidence and investment.