To the FedGov, at this point, I expect it is. Paying 10% interest on $30T in debt would cost $3T per year. The FedGov only took in $3.8T in taxes last year. Then there are all the massively over-leveraged corporations out there. 10% interest rates wouldn't produce a "recession". They would produce a depression that would make the one 90 years ago look like a minor blip.
"Is the cure worse than the disease?"
To the FedGov, at this point, I expect it is. Paying 10% interest on $30T in debt would cost $3T per year. The FedGov only took in $3.8T in taxes last year. Then there are all the massively over-leveraged corporations out there. 10% interest rates wouldn't produce a "recession". They would produce a depression that would make the one 90 years ago look like a minor blip.