Business & Investments

US Senator Jim DeMint (R-SC) questions President Obama’s Federal Reserve Chairman Ben Bernanke how increasing interest rates will affect US debt payments. Bernanke stated that a 1% increase in interest rates would cause 0 billion per year increase in size of US debt, or trillion in new debt over 10 years. DeMint stated: “That’s real money.” Bernanke responded: “A trillion there, a trillion here… doesn’t make that much difference.”