All I know about this issue is what you wrote above, but it sounds to me like the US taxpayer is paying interest on bonds so that bond holders can earn interest

All I know about this issue is what you wrote above, but it sounds to me like the US taxpayer is paying interest on bonds so that bond holders can earn interest. I think its perfectly reasonable for the taxpayer to say they would rather not pay interest on those loans. The bond holder could lend the money somebody else instead. In fact, I think its really unfair that one generation of people can leave debt behind for future generations to pay with higher taxes.