The dirty little secret is that if the Fed were to let interest rates rise as high as 6%—by historical standards a very “normal” interest rate—the obligation to pay interest on our massive federal debt would require either massive cuts to entitlement programs, generating civil unrest and a likely depression, or hyperinflation. So they are going to try to keep interest rates no higher than they are now for as long as they can.
The eCONomy is based on CONfidence. When something happens to shake that confidence—as it inevitably will—and interest rates rise despite the Fed’s efforts to prevent it, all hell is going to break loose in this country. And then, folks will finally understand why racking up a massive federal deficit was and is a very, very stupid idea.
Thank you, that little fact needs to be shouted far and wide so that these future little socialists understand the very, very simple concept of "There is NO free lunch, ever!"
They need to be forced to understand that eventually we will all be called to pay the bills and it's going to fall on the millennials and GenZ's backs to pay it now.