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This is not understood nearly enough. Because we roll debt over every year -- bonds mature and become due, the bond holder gets paid, and we sell another bond with a new maturity date -- when the new bond has a lower interest rate than the bond that matured, the "interest" payments on the overall national debt decline. Replace high interest debt with lower interest debt = lower deficits. Biden Admin flooded economy with case, increasing inflation. Fed increased rates to slow economy and push down inflation. During the last 24 months with significantly higher rates, our interest payments have gone up because lower cost bonds were replaced with higher cost bonds. Reversing that now is essential to longer term growth.

shipwreckedcrew ↗