absolutely. and now look at the inflation and fed rate of late 70s and 80s. we have not yet won the inflation war and fed has already paused the rate lowering cycle. so if we need to increase the rate higher to bring inflation down to 2%, imagine the % of debt payment as part of revenue; in 70s/early 80s, the fed rate was as high as 15% compared to 4-5% now.
have a look at this: https://tradingeconomics.com/united-states/interest-payments...
it is like borrowing at higher rate than the rate at which are are growing our income.