By: Dan Weil
When you think about the government’s exploding debt burden, you probably don’t focus on interest payments.
But those payments will likely total $4.8 trillion over the next 10 years, amounting to more than half the government’s $9 trillion in debt.
Interest rates are near zero now, thanks to the Federal Reserve’s massive monetary stimulus. But at some point the Fed will have to reverse that easing.
"When interest rates rise, even a small amount, the interest payments go up a lot because of the size of the debt," Charles Konigsberg, chief budget counsel of the Concord Coalition, told CNNMoney.com.
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