The U.S. national debt could end low interest rates

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The U.S. national debt could end low interest rates

For the past two decades, the federal government has been racking up deficits with no expectation of ever running a surplus. This has been possible because of a belief that, for the U.S., the classic accounting link between increasing debt and borrowing costs does not apply.  Most countries can’t spend much more than they make. High debt sometimes forces a country to offer higher bond yields to compensate investors to continue purchasing increas…