The rising price of paying the national debt is a risk for Trump's promises on growth and inflation

Donald Trump has big plans for the economy. He also has big debt problem that'll be a hurdle to delivering on those plan. Trump has bold ambitions on tax cuts, tariffs and other programs. But high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do. The federal debt stands at roughly $36 trillion, and the spike in inflation after the pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security.