This works out at about a 3% interest charge and represents about 20% of the US government’s tax revenue.
The yield on 10 year treasuries has been ‘forced down’ in the last few days. I suspect some behind the scenes action from The Treasury.
Wait until US debt reaches a projected $50 trillion in ten years with interest rates at 10% 
Interestingly, this discussion came up on Bill Maher’s interview with Dean Phillips who announced his candidacy for president. Dean made the comment that the Party of fiscal conservatism has vaporized into this air. He’s correct, and most in congress (he’s a Representative) don’t even want to talk about spending. He’s a Democrat running on a platform of a fiscally-responsible budget. The world has turned over itself.
How do we not have any conservative running on anything other than the former president, especially running on the huge deficit cost in the annual budget?
“The best lack all conviction, while the worst are full of passionate intensity"
It is a shame that Congress wouldn’t allow the government to load up on debt when the interest rate was almost at 0% to pay off higher interest rate debt and borrow for the future. If it had been able to, think how much better the interest part of the debt payments would be now.
Because from Nixon on through TOOWMNBN (and shame on you TucsonBones for labeling that…entity…“conservative”), conservatives mostly depended upon a dangerous alliance with racists, varied religious lunatics, and those of the wealthy class who had no shame nor interest beyond their golf score and their children’s inheritance of leisure. This nasty grouping were footlose after abandoning their long time home with the Dems to take over the good ship GOP after Eisenhower, throwing the compass and charts overboard, and are now sailing according to brain spasms, ancient legends, and above all social media ratings.
The real conservatives are now a tiny band sipping cocoa in an ancient bedraggled historic building near Ross Douthat’s house in New Haven. Romney and (it is rumoured) the ghosts of McCain and HWBush drop by from time to time to commiserate. I read with real interest everything the write, which aint much.
david fb
While the liars blame the poor, the money went to the rich. The rich will have to pay it back.
The quickest way for the rich to pay it back is to raise incomes for most Americans. That way more Americans are paying more in taxes.
Hold on by that solid logic this is not much of an issue.
Unless cheap ignorant people hold the nation back.
Except his version of responsible is not responsible. It is cheap. When being cheap has proven from 1981 to 2020 to be a mistake where we lose factory output. In turn wages are kept down and the debt to GDP ratio rises.
Perhaps he knows nothing about what he is doing. That is giving him the benefit of the doubt. He really deserves no credit at all.
“Surely the second coming is at hand.”
“Surely the second coming is at hand.”
I suppose that could be easier with the hand.
Pete
You got that one! Some might think you’re alluding to TFG
Nope, just like you quoting from one of my favorite W. B. Yeats poems.
or if you all would rather hear Joni Mitchell’s interpretation
Thank you PucksFool for the link to Joni Mitchell’s magnificent rendition, which I had never heard nor heard of…
About once a month or so I have to stop and listen to this one,
david fb
(who once flew a Cessna 182 Turbo from Houston back to Los Angeles across “the burning desert”, listening to a mix of Joni M, Annie Lennox, and Mahler…)
My favorite Yeats is The Lake Isle of Innisfree:
I will arise and go now, and go to Innisfree,
And a small cabin build there, of clay and wattles made;
Nine bean-rows will I have there, a hive for the honey-bee,
And live alone in the bee-loud glade.
And I shall have some peace there, for peace comes dropping slow,
Dropping from the veils of the morning to where the cricket sings;
There midnight’s all a glimmer, and noon a purple glow,
And evening full of the linnet’s wings.
I will arise and go now, for always night and day
I hear lake water lapping with low sounds by the shore;
While I stand on the roadway, or on the pavements grey,
I hear it in the deep heart’s core.
DB2
“Thank you PucksFool for the link to Joni Mitchell’s magnificent rendition, which I had never heard nor heard of…”
Ditto
My introduction to Yeats and my love of poetry began with ‘The Host of the Air’.
I was a teenager and folk music was going through its phase of popularity. This album is where I first heard the poem performed. It hooked me on Yeats, poetry, and reading poetry aloud.
Thank you for posting that version of Amelia. The song is one of my favorites, and the Pat Metheny solo at the end is a wonderful surprise. Larry Carlton is the solo guitarist on the Hejira album recording.