Byron Wien on the wake-up call that might actually prod Congress into action on the U.S. debt:...

|By:, SA News Editor

Byron Wien on the wake-up call that might actually prod Congress into action on the U.S. debt: "At an average interest cost of 2.3%, it only takes about 8% of federal revenues to service the debt, but if the deficit keeps building at more than $1T/year and the average interest rate on government obligations rises to 3%, by 2020 the cost of debt service could rise to more than 20% of revenues."