Quoting the CBO: "Growth of Net Interest Outlays. In CBO’s most recent projections, the cumulative deficit from 2021 through 2030 totals nearly $13 trillion. Bo

Quoting the CBO: "Growth of Net Interest Outlays. In CBO’s most recent projections, the cumulative deficit from 2021 through 2030 totals nearly $13 trillion. Borrowing to finance that deficit—at a time when interest rates are expected to rise—would cause net interest payments as a percentage of GDP to increase over that period, from 1.4 percent to 2.2 percent, which is generally in line with the 50-year average of 2.0 percent. Over the long term, interest rates are projected to rise further, and the amount of debt issued is projected to grow, causing net outlays for interest to increase to about 8 percent of GDP by 2050." I don't believe the current rate of increase is anything close to what was projected. Also, the chart on debt held by the public is very interesting. Raising rates has some big impacts, even small changes. source: https://www.cbo.gov/publication/56910 https://www.cbo.gov/publication/56910