Paying the ten year rate

Government cost of debt service is the blue line, the actual interest charges divided by outstanding debt.  The red line is the ten year market rate.

That looks settled, if that holds then the future is about 2.5% ten year rate. Growth is 1.8%, deflation about .8%.   Risk is paid with appreciating currency. This will go on until we are satisfied the big peak in 1980 is paid for.