Annual payments on the monstrous U. S. national debt could triple or quadruple should the interest rate be jacked-up much higher as portended by the Fed, those payments now about $300 billion per year, soon to increase to a $1 trillion or more? Of course the rampant inflation being suffered now in the U. S. somewhat monetizes the debt, perhaps part of the plan, yet spending more on debt payments than on national defense would certainly be jarring!
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