mango, my apologies. I thought you were being mischievously pedantic.
But, as the US needs increasing bond issues to fund the increasing interest bill and the ever increasing deficits - what happens when nobody wants to buy the bonds, that is, lend to the US, at these low rates? Continuous money creation will eventually cause inflation,and nobody will want to lend long at 3% when monetary inflation is running at 6%. So rates will have to rise, increasing the interest bill further.
