I can see his point.
Take interest charges by total debt and we get about 2.5%. The thirty year rate is 2.3%, and we have a flat curve putting us at about the 50 year rate.
The reason, of course, is we picked up a ton of debt when the ten year was 3.5% and Krugman said that was low, at the time. Krugman was wrong. Now we be screwed with excess interest charges.
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