The U.S. debt-to-GDP ratio is close to its highest level ever, and continues to increase. How did it reach this level? And how do rising interest rates add to the cost of servicing the debt? @dbergstresser.bsky.social explains.
econofact.org/the-cost-of-...
The relatively short maturity structure of US government debt means that increases in interest rates translate rapidly into higher interest costs.
