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5 Things to Know Today — September 24, 2026

  Thursday, September 24, 2026 5 Things to Know Today Bond yields are hitting levels not seen in decades, Trump and Xi just extended a trade truce, and the Bank of Canada is mired in a near-100-day strike. Here's what Canadians need to know this morning. 1 · Markets TSX Sinks as Bond Yields Hit Multi-Decade Highs The TSX dropped 584 points on Wednesday — a 1.61% slide — closing at 35,751.43 and breaking through its 25-day and 50-day moving averages. It was the worst single-session performance in weeks, reversing three straight days of gains. The selloff was driven by rising energy prices and a global bond market rout that has sent U.S. 10-year Treasury yields toward 5.1%, their highest since 2007, while Canada's 30-year yield hit a level not seen since 2004. Higher yields pull money out of equities and push up borrowing costs across the board. Big bank stocks led the decline — RBC fell 2%, TD dropped 2.4%, BMO shed 2%, and Scotiabank retreated 1.6% — while gold miners added to ...
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A Comprehensive Approach to Addressing the US Debt Problem

 

The US debt problem is a complex issue that requires a multi-faceted approach to solve. While closing the $688 billion tax gap is a step in the right direction, it is not a panacea for the US debt problem. According to a recent article by AOL, even if the IRS achieves a 100% collectible rate and closes the estimated $688 billion tax gap, that won’t be enough to meaningfully shrink the US debt gap. The article suggests that the US government needs to focus on other areas such as reducing spending, increasing revenue, and improving economic growth.

The US debt problem is a critical issue that requires immediate attention. The current debt-to-GDP ratio indicates that current policy under this report’s assumptions is unsustainable. If lawmakers fail to take action soon, the report projects that the federal debt could “exceed 200 percent [of GDP] by 2046 and reach 566 percent by 2097”. To stabilize the federal debt at current levels, the Financial Report estimates that the government will have to run “primary surpluses” equal to 0.6 percent of GDP, 4.9 percentage points higher than current projections, between 2023 and 2097 .

Therefore, it is imperative that the US government takes a comprehensive approach to address the debt problem. The government should focus on reducing spending, increasing revenue, and improving economic growth. A balanced approach that includes a combination of these measures is necessary to address the US debt problem.

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