America’s constantly increasing national debt is expected to cost more than $5 trillion in interest payments alone over the next decade, according to projections from the CBO. Interest rates on U.S. bonds are near record lows, but the CBO estimates they could rise to 5 percent by the end of the decade. However, if interest rates rise just one percentage point above the 5 percent estimate, it could add around $1 trillion to interest costs.
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