A major portion Federal Government debt is interest charges; the government pays for borrowing money. Interest rates affect the amount of interest owed. After

A major portion Federal Government debt is interest charges; the government pays for borrowing money. Interest rates affect the amount of interest owed. After decades of low interest, the past five years of interest rate hikes have dramatically increased government debt. Lower rates won't lower the amount already owed, but would help slow the rate of increase of the debt burden moving forward.