Episode 280: The End of the Experiment in Unlimited Government
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The Federal Government's $30 Trillion in Debt as Interest Rates Go Up
The Federal Reserve is trying to slow the growth of the money supply in an attempt to cool down inflation. When you contract the money supply like that, it also drives interest rates up. And now we're back to the federal government because the federal government's $30 trillion in debt as interest rates go up. If interest rates rise just 2 percentage points, it will cost the federal government annually as much as the entire Department of Defense. That would be the annual expense on the interest from just a 2 percentage point rise.
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