Bloomberg Surveillance · Thursday, September 10, 2026
Libby Cantrell of PIMCO argues that the U.S. has a massive budget deficit, limiting its capacity for additional spending, especially during relatively good economic times. She notes that Donald Trump's policy stances on protectionism, entitlements, and deficit spending align with Democratic views.
“But, of course, we have a massive budget deficit. I mean, we're going to be looking at 6.5%. budget deficits as a percentage of GDP this year. So there is no extra capacity to be spending, especially in the relatively good times.”
“He actually shares many views with the Democrats, protectionism, protecting entitlements, okay with deficit spending.”