 In fact, this year it's predicted that the government's going to spend somewhere about $2 to $2.5 trillion more than it receives, which means it'll have to sell even more bonds. Who buys these bonds? Sovereign wealth funds, pension funds, insurance companies, big institutional investors. When you have a glut of supply, it's basic supply and demand, folks, economics 101. When you have a lot of supply, you have to increase the interest rate