Steil: Interest Payments on National Debt Could Hit $1 Trillion
Raising the interest rate might help fight inflation, but it could come at a hefty price.
The national debt rocketed past $30 trillion this year. Raising the interest rate raises the debt service payments, and those cannot be deferred.
Meanwhile, the inflation rate is now at 8.4% for the year. On May 5th, the federal reserve raised the interest rate from 0.5% to 1%. Higher interest rates supposedly slow down inflation, but it also means an extra $100 billion interest payment on the debt. That's just the beginning.
Congressman Bryan Steil might not be the only one predicting the Fed will raise interest rates again, but he is a lone voice pointing out how high those interest rates could very well go, and what that means for the federal government's debt service payments.
-
15:52
Scammer Payback
1 month agoScammers Located in this Apartment
69.9K43 -
10:41
Breaking Points
2 days agoARSON, 'FREAK OFFS', LUBE: Diddy Indictment SHOCKING DETAILS
12.9K9 -
45:44
hickok45
6 hours agoSunday Shoot-a-Round # 247
1.12K13 -
3:34
Cooking with Gruel
18 hours agoBrown Butter Deviled Eggs
3.88K2 -
11:06
Bearing
2 hours agoThe Office 2024 Australian Reboot Looks GARBAGE
3.33K7 -
28:21
Lloyd And Mandy
6 hours agoThe INCREDIBLE Hack Every Online Business Owner MUST KNOW In 2024..
34 -
0:51
scoutthedoggie
22 hours agoWhat's in your Northeast UZI Rob?
75 -
12:49
Misha Petrov
15 hours agoI Triggered The Furries…
24.9K39 -
6:22:05
Akademiks
16 hours agoNicki Minaj EXPOSES Jay Z over Finessing HER! Diddy got all his Peers Hiring Lawyers & on the RUN!
115K72 -
1:04:17
WarRoom Films
9 days agoGovernment Gangsters - WarRoom Film
312K64