This shouldn’t surprise anyone with Obama and the Democrats spending trillions of dollars in deficits for years to come and now it just became more expensive for them to do so:
Weak demand at a Treasury bond auction touched off worries in the stock market Thursday about the government’s ability to raise funds to fight the recession.
The government had to pay greater interest than expected in a sale of 30-year Treasurys. That is worrisome to traders because it could signal that it will become harder for Washington to finance its ambitious economic recovery plans. The higher interest rates also could push up costs for borrowing in areas like mortgages.
And just wait until the deficit explodes after they add government run health care, they’ll be paying a lot more to try to service the debt.
(via)