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Cost of Financing US Deficits December 18, 2020 12:30pm by Barry Ritholtz   Low interest rates makes it easier to pay off debts. This is what awaits the new administration that will begin governing in a little over a month. The facts about deficit financing should be front and center of the White House and Congress. Its the Debt servicing costs, stupid — not total debt. Consider in 2000, when the US federal debt was 34% of GDP, relatively close to ...