The Rising National Debt Drives Up Long-Term Interest Rates
As interest rates rise, so too will the borrowing costs of the government. According to CBO, the government’s net interest costs will total $66 trillion over the next 30 years, accounting for nearly 40 percent of all revenues by 2052. AEI warns that those costs could be even larger — CBO’s projections incorporate a smaller estimate of the impact of rising debt on long-term interest rates than AEI estimates. Assuming a continued increase in interest rates to 6 percent by 2052, AEI estimates that the debt-to-GDP ratio could equal 235 percent by 2052, compared to CBO’s estimate of 185 percent.
“ . We are the world’s greatest debtor nation.”
We literally have more debt than any entity ever, in all of human history. It’s truly horrifying if you think about it much. Be ready for hard times. When they speak about a soft landing, that means for them. It does not mean for the American people.