Political support for taming deficits has melted away, with Republicans accepting bigger deficits in exchange for tax cuts and Democrats making big spending promises around 2020 election campaigns. Global demand for U.S. Treasury assets has displaced the “bond-market vigilante” mentality of the 1990s that scared Washington.
https://www.wsj.com/articles/how-washington-learned-to-love-the-deficit-11560436380?mod=hp_lead_pos4
