We spent $378B (or 8% of the budget) on net interest last year, when interest rates were nearly zero. What happens this year and next year when FED pushes rates to 4.5%? They will bankrupt the treasury department and US government in the process.

There’s only so much you can push rates when you have $31T of national debt on a semi variable interest rate. At some point Biden fires Jerome Powell like Trump wanted to do in Dec 2018.

$SPY $QQQ $DIA