Most of government debt is due in a few years [1]. The interest rate is fixed as long as the government will pay off the debt on schedule. With the current debt

Most of government debt is due in a few years [1]. The interest rate is fixed as long as the government will pay off the debt on schedule. With the current debt load Gov will not pay its debt on schedule. When the debt will become due the gov will roll it over - it will basically get another loan to pay the loan that is due. If at that time the interest rates will be higher then interest expense will be higher as well. [1] https://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_ann2021.pdf https://www.treasurydirect.gov/govt/reports/pd/feddebt/fedde...