In July 2021, the Congressional Budget Office (CBO) projected the 10-year cost of servicing the federal debt for 2022-31 at $5.43 trillion. Just two years later, it projects that cost to double for 2024-33 to $10.56 trillion as a result of the Fed’s interest rate hikes. The recent debt-ceiling deal reduced this number by $188 billion which barely move…
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