President could find himself in situation similar to that of Liz Truss as the rising U.S. deficit and high rate could make investors nervous, causing a drop in markets.Biden was clear he was not in favor of Truss's plan to cut taxes for the wealthy while spending billions in subsidies.Like Biden, Truss faced the lethal combination of high inflation and soaring interest rates when she signed off on her 'mini-budget' that sent the into a death spiral and forced the sterling to plummet.
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