The Fed Can't Raise Rates, Right?

A year ago, it looked like it was not possible. The Fed has painted into a corner. They can't possibly raise rates. And so if you have inflation at 8% to break the back of inflation, you're going to need to say your interest rates at 10%. Okay. So that's $3.1 trillion a year in interest expense alone on your national debt. If you get, if you let your interest rates get to 10%, we've already been running a trillion dollar deficit on average every year for the last 10 years. That's the whole debt spiral We are in.

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