Tax scramble in full swing

In Striking Reversal, One Bank Warns That 2021 Could See The "Biggest Fiscal Contraction In History"

No inflation, income dropping for government and tax payers  running for the hills. Deflation.

A slight deflation is workable, but requires significant government budgeting reform to manage dropping tax income.  None of the government programs have deflation adjustments.

Biden's natural tendency.

That would be Bubba, Obama, and Carter; good old fashioned austerity with reduced deficits and long expansions.  Short of a Black Swam, that is the formula for re-election.  But that involves much more significant reform in the Swamp then our degenerated politicians can afford. In the background of the tax scramble we get an internal civil war in the Dem party. Then we might get sudden devaluation, Nixon style.

At the bottom is this nagging government cost, unassignable, and no one's fault; it is the government structural imbalance. We are left with two options, austerity to reduce that cost to trivial; or go ahead and expense that in a New Fed contract and give Treasury an inflation tax.