Those who lend at a low interest rate are not alarmed with the borrower. America has no trouble borrowing money at very low interest rates. No, there is no debt crisis no matter what the Republicans say. What there is, is a political crisis created by Republicans in the process of trying to get rid of the safety net that most of us depend upon. But since the safety net is popular, they had to create what they call a spending crisis and a debt crisis by “starving the beast.” They did that by running up a deficit and cutting taxes.
Notice how the administration has made detailed budget proposals, but the Republicans still complain that the administration has not described the budget cuts that it will make? Further, the Republicans have not made details of any tax changes or budget cuts they want. The goal is for the administration to describe budget cuts so that the Republicans don’t take responsibility for them. This is a Republican war on the American people. They are really serious about it. They are desperate enough not to hide it anymore.
It looks like things will get ugly.