Fourth, there is no connection between the size of national debt and the price that a government must pay to finance it. The interest rates that Japan, the United States, the UK, and Germany pay on their national debt are equally low, despite vast differences in their debt levels and fiscal policies.
第四，国民债务规模和政府融资成本之间并没有多少联系。日本、美国、英国和德国的国民债务偿还成本一样低，尽管它们的债务水平和财政政策相差极大。