Yes. Unlike in 1979, when debt/GDP was around 30%, its now around 130%. Long term interest rates at 10% on Fed.gov $30 Trillion in debt (and that's assuming they balanced the budget immediately) would cost Fed.gov $3 TRILLION A YEAR.
Fed.gov currently collects about $3.7 trillion in taxes a year. So obviously, interest rates that high will simply not be allowed
Get used to high inflation. Its how America's socialists will whittle down that massive pile of debt, just like how they do it in Argentina, Bolivia, Brazil, etc....
In 1980 I bought a newly built house with a mortgage of 13%. My neighbors had higher at 17%, all new houses.