For the last 20 years or so, interest rates on U.S. government borrowing have been at rock-bottom lows.  As a result, most Americans were unconcerned about how much it cost to pay the interest on that huge debt.  And of course while the emperor was on the throne--doubling our debt in just 8 years-- the Lying Media didn't say a critical word.

A tiny group of conservatives warned about the consequences of such consistent deficit spending, but of course the media steadfastly ignored the warnings.

But now, with debt at roughly $21 Trillion and interest rates beginning to rise, just paying the interest on the debt is about to cost a lot more. 

How much more?  Today the interest is costing about $260 billion per year, but that's expected to soar to more than $600 billion by 2023.

Of course many voters--both the uneducated, and those who got "-studies" degrees from prestigious schools but never learned how to balance a checkbook--aren't even sure of the relationship between billions and trillions, so few have any idea whether that figure is something to be concerned about.  So consider this:  It's almost as much as the government spends on defense. 

But since government money isn't real anyway (as Obama supporters noted, "If the government needs more money, it can just print more--problem solved!"), why does any of this matter?

[For liberals and -studies majors, the previous 'graf was sarcasm.]

Okay, when a government prints money it doesn't actually have, you get high inflation.  Do enough printing and you get hyperinflation, with prices doubling every month, as the poor citizens of Venezuela have been experiencing for the past five years.

Theoreticaly, borrowing money instead of merely printing banknotes should act to restrain government "leaders" from simply buying votes by giving thousands of dollars to every voter.  But in practice that's what's happening now.  We just

Of course the long version of the above article is from a highly unreliable source--probably some blogger--so it may not be accurate.  Oh wait, it's from CBS News, so use caution...