Higher Interest Rates Will Raise Interest Costs On The National Debt

Every day news outlets are discussing the pros and cons of raising the debt ceiling.  What seems to be missing from many reports is how Fed Chairman Powell’s interest rate increases are impacting the interest payments on the federal debt.

It’s the opinion of the Peter G. Peterson Foundation that “Congresses and Presidents of both parties, over many years, have avoided making hard choices about our budget and failed to put it on a sustainable path. It is vital for lawmakers to take action on the growing debt to ensure a stable economic future.”

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