Mermelstein: If interest rates were 5 percent, the Government would have to default on the debt or not pay Social Security and Medicare benefits. It is as simple as that. We are past the point of no return.
as of the end of 2020, the average maturity of the US debt is 65 months. So, with-in 5 1/2 years the US will have to refinance half of its debt. If interest rates spike, we will be screwed.
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