High rates add to burden of managing debt, Yellen to CNBC (Il Sole 24 Ore Radiocor) - New York, 13 Jun - Treasury Secretary Janet Yellen said the US national debt was manageable as long as it stayed around where it was relative to the rest of the economy.

In an interview with CNBC, Yellen said that high interest rates added to the burden of managing the US's 34.7 trillion dollar debt load.

'If the debt is stabilized relative to the size of the economy, we're in a reasonable place,' she said.

'The way I look at it is that we should be looking at the real interest cost of the debt. That's really what the burden is.' Yellen spoke up President Joe Biden's plans to manage the situation.

'In the budget the president presented for this coming fiscal year he proposes $3 trillion of deficit reduction over the next decade,' she said. 'That's sufficient to basically keep the debt to income ratio stable, and this interest burden would be stabilized.'.

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(RADIOCOR) 13-06-24 16:46:40 (0503) 5 NNNN