Two things:
First, raising interest rates would immediately bankrupt many of the blue states. Many have been borrowing to keep retirement plans afloat. Higher interest rates would also cause US to borrow more to pay interest.
Second, a bit longer term is the unfunded entitlements that are going to need to be paid. The reason 0 has had no budget is that they don’t want to call attention to the fact that the total of the entitlements is greater than all money in all forms of currency that exist today!
Bingo! Interest on the debt is the thing to watch as interest rates rise. Obama and the dems can’t let rates rise.