US is spending record amounts servicing its national debt – interest rate hikes add billions to the cost
- Written by: Gerald P. Dwyer, Professor Emeritus of Economics and BB&T Scholar, Clemson University
Putting your money where his mouth is.DNY59/E+ via Getty ImagesConsumers and businesses aren’t the only ones feeling the pain of higher borrowing costs because of Federal Reserve rate hikes. Uncle Sam is too.
The U.S. government spent a record US$213 billion on interest payments on its debt in the fourth quarter, up $63 billion from a year...
