A market hedge for those worried neither Trump nor Harris will do anything about the growing fiscal deficit

For many Americans, the presidential election feels like the most consequential they can remember. In an environment where politicians appear willing to say almost anything, however inflammatory, and dissect and overblow any remark, however innocent, the most remarkable commonality this election season is the avoidance, by both sides, of one of the most significant economic issues of our lifetimes: the U.S. fiscal debt and deficits at historic levels unseen since World War II.

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