What Happens When Interest Payments Match Defense Spending?

Such interesting times as we discuss the "debt ceiling" and what to do about it.

U.S. interest payments are now equal to Defense spending. This is not the first time that we have been in this situation (1997-1998) but we are now well north of $900B+ with those expenditures.

30% of the debt needs to be refinanced in the next 12 months. But at what rate?

Very, very interesting!