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Haven’t we known this for many many months, in fact, this was the reason many suspected rate drops … either rates go down or US pays out their most in interest …

Between June and September nearly 30% of the national debt will be refinanced. That mean the bond averaging a coupon of roughly 2.7% will now be paid out with new 10 years averaging nearly 5.5%. That's $11T at more than 2 times the interest rate.

Another 20% of the debt will be refinanced between the end of the year and next September.

If 50% of the debt resets at 2x the current interest rate then we will be paying more than Defense and Healthcare COMBINED.
 
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