As almost everyone knows, our government has been spending trillions of dollars. The effect of this on the national budget has largely gone unnoticed as interest rates have been historically low. It appears that is about to change
With the Fed now poised to start raising interest rates, the interest on the federal debt also goes up and starts to consume more and more of the budget (which then requires more debt to feed). As anyone who has experienced credit card debt should know, this is not a sustainable cycle.
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As elected officials continue a path of reckless spending and giveaways, they will continue to ignore this lingering problem until it becomes a crisis. I would argue, the crises is already here and, as a nation, we need to take notice.