Interest on the debt is a huge threat
10% interest rates mean $3 trillion a year in interest on govt debt .... Feds make about $3.7 trillion a year from taxes. Uh oh moment .... only way to fight 10% inflation is with 10% interest rates.
Interest on the debt is a huge threat
BY TOM SCHATZ
The justifiable and unavoidable focus on the highest inflation in 40 years should look beyond its visible impact on the economy and the cost of goods and services. While the most noticeable sign of increased prices appears at gas stations, where they are reaching record highs every day, there are less no…
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