Why?

This:

The U.S. has over $31 TRILLION in debt. At these debt levels, every 1% increase in rates means an additional $310 BILLION in interest payments.

We were already paying $305 billion in interest payments per year when rates were at ZERO. They're now at 1% and the Fed claims it's going to raise them to 3%.

This would mean the U.S. spending nearly $1 TRILLION in interest payments… without reducing our debt by even a penny.

In fact, according to the Congressional Budget Office, we're going to run a $2 trillion deficit this year… which means our total debt amount will rise to $33 TRILLION… which means every 1% increase in rates will lead to $330 billion more in debt payments.

You get the general idea.