What Rising Interest Rates Mean to the US Budget
While low interest rates have hurt savers, the Federal Government has been the biggest beneficiary. In eight years our national debt has doubled, but our annual cost to service this debt has gone up only 20%.
When we return to a normal interest rate environment, our massive debt will consume a significant portion of tax receipts. Peter J. Tanous, Chairman of Lynx Investment Advisory clearly lays out the danger lurking ahead. From CNBC, read it here.