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.
To understand the scale at which we have printed money, analyze the fed balance sheet https://www.federalreserve.gov/monetarypolicy/bst_recenttren...