You're probably thinking the graph of the week is from the jobs report. But IMHO, it's from the new CBO report. Remarkably, servicing our much larger debt is much **smaller** as a share of GDP compared to pre-pandemic baseline. Add in Fed remittances, and net int payments...
He deliberately excludes the seigniorage tax even though he knows that to be an interest charge subsidy.
The difference between the blue and red are the amount of taxes on banks we expect to pay. So Jared in his stupidity is now claiming how wonderful it is to apply a regressive tax on bank accounts.
Note, this is a flat earth projection, meaning it may happen as long most of our macroeconomists are as dumb as Jared. But they are not that dumb. I have already seen research reports on the effect of an increasing bank tax. Under no circumstances will the middle class be able to pay that level of banking tax, and the regulated banking sector will collapse.
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