Rep. Steil: Interest Payments on National Debt Could Hit $1 Trillion
Raising the interest rate might help fight inflation, but it could come at a hefty price.
The national debt rocketed past $30 trillion this year. Raising the interest rate raises the debt service payments, and those cannot be deferred.
Meanwhile, the inflation rate is now at 8.4% for the year. On May 5th, the federal reserve raised the interest rate from 0.5% to 1%. Higher interest rates supposedly slow down inflation, but it also means an extra $100 billion interest payment on the debt. That's just the beginning.
Congressman Bryan Steil might not be the only one predicting the Fed will raise interest rates again, but he is a lone voice pointing out how high those interest rates could very well go, and what that means for the federal government's debt service payments.
-
LIVE
vivafrei
1 hour agoDid Elon Buckle to Brazil's Judge de Moraes? Democrats Back to Dogwhistling for Violence! Viva Frei
2,581 watching -
LIVE
The Charlie Kirk Show
51 minutes agoThe Truth About Nebraska + The Soros Factor + "Trump Train" Triumph| Carr, Presler, Mesaros
7,845 watching -
LIVE
Grant Stinchfield
41 minutes agoGovernment Overreach or Saving the Children?
437 watching -
58:34
The Dan Bongino Show
3 hours agoThis Video Should Sink Kamala Harris (Ep 2335) - 09/24/2024
458K1.44K -
56:21
Steven Crowder
3 hours ago🔴 RESULTS: Jay Varma Fired + Hillary Clinton's Insidious Role on the Kamala Campaign
203K388 -
LIVE
The Shannon Joy Show
5 hours ago🔥🔥LIVE - Exclusive With THE Peter Schiff. He’s The Money Expert You Want To Learn From As Our Corrupt Politicians Drive The US Economy Off A Cliff!🔥🔥
554 watching -
DVR
Benny Johnson
2 hours agoTrump Announces Triumphant Return To Site of Assassination Attempt | Swing State SURGE📈
39.8K98 -
1:21:01
Graham Allen
4 hours agoLEAKED $150,000 Bounty To K*LL Trump!! THIS IS THEIR PLAN!! + Biden Is Going On The View?!
78.7K103 -
2:03:47
Matt Kohrs
11 hours agoChina's Emergency Bailout, Breaking Market News & Live Trading || The MK Show
52.6K4 -
LIVE
LFA TV
15 hours agoLIVE TRUMP RALLY & BREAKING UPDATES! | LIVE FROM AMERICA 9.24.24 11am EST
5,237 watching