“Since interest rates can’t go any lower, it’s fair to say that interest rates have to move higher, at some point. And that means that the best-case scenario for the future is that the national debt will DOUBLE every 5 to 7 years – unless something is done.”
Wait, what?
“Since ducks don’t bark, it’s fair to say that they quack, at some point. And that means that the best-case scenario for my chances of getting it on with that hot girl will DOUBLE every 5 to 7 years”
I really don’t understand his logic there. T-Bills aren’t variable rate. You buy debt in 2004 at 0.8% ... you don’t get any more than 0.8%. That’s how T-Bills work. It’s not a blasted mortgage.
Also, how on earth does increasing interest rates above zero do anything but help the country? Saving rates go up. As long as they stabilize at around 2% (or just under GDP growth rate) everything is golden. Also, it makes US debt more attractive.
Bill Still knows nothing about country-level economics.
In the first place low interest is what we get w/ low inflation. Yeah you can say America's got runaway hyperinflation but most people's wages haven't been soaring and the price of energy's low and home prices aren't what they were in '07 etc. Anyway, we'll get high interest rates when we get high inflation.
Secondly, (and back on topic) when we get pre-crisis interest rates again our federal payments for national debt interest will soar to over a trillion per year. We're talking 'yuge' tax hikes there --unless Pres. Trump decides to cut a heck of a lot more spending than the weak limp % or 2 he's talked about so far.