yep.
And when people talk about the fed interest rate, think about what a difference it makes at this scale, applied to what we pay just in interest on the debt. Lets say we are paying 2% on that debt. If it it raises to even 3%, the difference is what we end up actually paying goes up tremendously. Many of of us have recently seen how much dropping interest rate affects your monthly mortgage payment and how much you actually pay over 30 years or whatever.
Now take that difference and scale it up from a $200k home loan and multiply it by 10,000,000. Thats how much more we will have to pay, just because interest rates when up.
So now are we not only saddled with a huge debt, we are stuck in a position where we must to everything possible to keep the interest rate low and any increases only make this problem worse.
