The bond market, long patient with American fiscal habits, is beginning to price in what some economists warned was inevitable: that the cost of borrowing for the world's largest debtor nation would eventually outrun the comfortable projections of official forecasters. Treasury yields have surpassed Congressional Budget Office estimates, with two-year notes reaching levels unseen since 2024, suggesting that investors are quietly revising their faith in the sustainability of the United States' fiscal path. It is a signal as old as sovereign debt itself — that markets, in time, demand honesty fr