> Interest payments relative to federal tax receipts are at multi-decade lows. It'll take some time before the current debt needs to be replaced at the higher

> Interest payments relative to federal tax receipts are at multi-decade lows. It'll take some time before the current debt needs to be replaced at the higher rate. We've had artificially low rates for the past 14 years. I argue that spending 20% of tax revenue on interest alone is grossly irresponsible. We still need to pay out the face value of those treasuries too. > $5.7 trillion of the debt is held by the Federal Reserve. The interest that they earn on this is passed back to the US Treasury. It effectively "doesn't count" except for whatever minor operating costs the Fed takes out. It "doesn't count" if you ignore the accelerating wealth disparity in our society.