Steven T. Dennis: USA 30-year interest rates keep going up, and are approaching 5%. The 10-year is near 4.5%. US owes >$36 trillion and budget projections on autopilot are ~$2T more in debt a year. Higher interest rates are sort of like a ratchet. The higher they go, the worse the deficit. Etc.

USA 30-year interest rates keep going up, and are approaching 5%. The 10-year is near 4.5%. US owes >$36 trillion and budget projections on autopilot are ~$2T more in debt a year. Higher interest rates are sort of like a ratchet. The higher they go, the worse the deficit. Etc.