They can’t, if rates go like Volker did then how would we pay the interest on the Debt , it would then eat up the entire budget.
That’s a fair point. Basically we’re damned if we do (raise rates) and damned if we don’t.
By the way, does anyone know when we last had an actual federal budget? Aren’t all these CR’s that keep raising the debt ceiling unconstitutional? Seems like it.