The risk isn't so much that interest costs will increase, it's that the bond market breaks and the availability on rolling debt forward and issuing new debt evaporates. Think of the unfunded promises. If taxes increased to 100% it wouldn't even come close as investment would leave overnight 
Not that we(Canada) is an empire but what haven't we checked off the list?
Not that we(Canada) is an empire but what haven't we checked off the list?
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