And worse, the rate of average interest on the debt is likely to continue rising over the next several months. It's truly a nightmare situation that the idiotic "leaders" of our country have gotten us into.
Just one of the many features of central banking using a pure fiat currency, where every last dollar is loaned in to society with interest attached. Funny thing is, the interest is Never Created and can only be paid through the blood and sweat of labor. We used to call this sort of thing Involuntary Servitude.
Increased interest income received by the elderly will reduce their need for Social Security increases.
Low interest federal debt redeemed will take financial pressure off banks.
Increased interest income received by the elderly will help them pay increased property taxes.
The increased property taxes go for increased local government spending, some of which winds up being paid as federal personal income tax.
Well,
The govt should just sell some more T-Bills——buyers are still there-—and use the proceeds to pay off the coming due notes..
Voila, can kicked down the road....
No worries....