The US is overwhelmed with debt. High interest rates in the US cause the Biden government to spend more money to pay interest to treasury bond buyers. The US raising interest rates in the past 2 years to curb inflation has helped bond investors make a lot of money. On the contrary, the government has to spend more money to pay interest on public debt of up to 35,000 billion USD. Bloomberg statistics show that in March, the US Treasury Department paid 89 billion $ biden in bond interest. This number is equivalent to $2 million/minute. If we don't lower interest rates in September, when will we lower them again? People often say that our debt is like a god./.

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