>but we don't need empirical evidence to know that at some point interest payments will require highter tax revenues When interest rates on bonds remain at or

>but we don't need empirical evidence to know that at some point interest payments will require highter tax revenues When interest rates on bonds remain at or below the rate of GDP growth, this is not an issue. For the U.S. (and other countries which issue floating-rate non-convertible currencies) interest rates on bonds are a policy variable of the central bank. http://www.cfeps.org/pubs/wp-pdf/WP53-Fullwiler.pdf http://www.cfeps.org/pubs/wp-pdf/WP53-Fullwiler.pdf