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elsinore11 t1_j9ljhbb wrote

Can’t raise rates too much higher or the US can’t afford the interest payments on the $30 trillion debt.

The federal government takes in $5T per year and spends $6T per year. Imagine being in debt 6 times your annual income and you can’t break even with your budget.

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Ok-ChildHooOd t1_j9ln4ss wrote

Most of the debt is at old interest rates. Inflation also makes the debt cheaper in real terms.

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