I was reading[ this article at the Federalist ](https://thefederalist.com/2021/11/15/not-only-is-inflation-here-to-stay-joe-bidens-going-to-make-it-worse/)and I was struck by one simple line in the story: > If interest on 10-Year Treasury notes doubles from 1.5 to 3 percent, interest payments would reach $640 billion Why is that significant? Because we're seeing inflation that's unprecedented since the time of the late 1970's. The inflation monster was eventually slayed with high interest rates, but this time is different. The Federal reserve doesn't have that option like they did in 1980. Our current national debt stands at almost $29 trillion dollars, while the 10-year Treasury yield is around 1.6%. Every year we have to pay $465 billion in interest. If rates from the early 1980's come back we'll be looking at rates as high as 13.92%. If that came to pass the United States would have to default or pay over $4 trillion in interest per year. That's would mean every cent collected in taxes by the Federal government would have to go to paying interest. The government would literally be broke without two pennies to rub together for welfare or anything else. They're fucking cornered. They have no tools to combat this inflation that don't end in disaster. The Democrats' only hope is to torpedo themselves in 2022 and 2024 so when the shit hits the fan the Republicans can be the ones left holding the bag.