Here is an exercise for you…

Look at our annual deficit.

Look at our debt.

Look at how much our govt has to pay in interest alone on that accumulated debt (which has rapidly increased)

Now, what do you suppose will happen when (not if) the bond market does start to deteriorate?

Let’s just say for instance that ten year treasury yields go from where they are now to say 7% over the next decade?

What do you think that will mean for the interest payments our govt must make?