Fed’s Inflation Fight Pushes Up Cost of U.S. Debt

“An era of ultracheap debt is over in Washington as higher borrowing costs widen the U.S. deficit and fuel a partisan clash over raising the debt ceiling and how much borrowing could be too much,” the Wall Street Journal reports.

“The Treasury’s spending on interest on the debt was $261 billion in the first four months of this fiscal year, a 33% increase from $196 billion spent in the same period last year, according to the department.”