On the other hand, we cannot ignore this. I mean, the debt, just the interest on the debt, if we have a 1-percent increase in the interest we are paying on our current Federal debt--1 percent--which I think everyone agrees is likely within the foreseeable future, that will suck more money out of the Federal budget than the sequester.
Angus King: “On the other hand, we cannot ignore this. I mean, the debt, just the interest on the debt, if we have a 1-percent…”
Editor's note · Context
Senator King warns about the impact of rising interest rates on federal budget due to debt.
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