Topic: Decline of the West
This is what happens to profligate spenders:
WEAK DEMAND: Interest rates climbed in the bond market Thursday after a government debt auction drew tepid demand. Auctions Tuesday and Wednesday also saw lower demand.
NOT THAT INTERESTED: The auction of $32 billion in seven-year notes saw demand fall from the past two months. That means the government could have to start offering higher interest rates to attract buyers.
In plain English: Investors are becoming more and more doubtful about the fiscal stability of the US Federal government—and less inclined to buy government securities. So it's becoming harder for the feds to borrow money at a time when federal spending is spiraling out of control. That's what's known as change without hope.