That makes sense...higher interest rates would make people less likely to buy stuff with credit, which would result in fewer jobs
At more than $14 trillion, America's debt might seem abstract, a number so large it's difficult to conceptualize.
If interest rates ramp up, a greater portion of the government's budget will go toward interest payments, leaving fewer dollars for other, more economically stimulating types of spending, such as building roads or providing tax incentives for small businesses.
When it gets more expensive to do that, they will have to pull back, cut benefits, [and] cut transfer payments. That will further slow the economy and the job market."
Generally, the economic effects are less destructive if the government deals with the deficit by cutting back on spending and entitlement programs,"
But if we cut from these programs, will there be money left for people who need help? I wonder how much of our debt goes to these entitlement programs?