The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher than they have been during the Obama administration - the cost of adding debt will climb dramatically. Congress will need to cut spending or raise taxes to finance this increased borrowing cost.
Video courtesy of Chippewa Valley Community Television.The data used in preparation of this chart can be viewed here.