the price of borrowing

it is commonplace amongst both consumers and corporations to assume debt before building equity. i'm still debating weather i'm a bigger proponent of rubinomics or reagonomics conservatives argue against higher taxes citing that consumers will make better use of retained income, while liberals feel that a fatter goverment bankroll will better aid it in helping pay for services catering to the needs of the people. while tax cuts do put money back into pockets, it also curtails govt. revenue. how is this dearth of revenue compensated for? higher interest rates. look at todays headlines in the wsj and nytimes. bond yields soar. this is making it more difficult for the middle class to borrow money. doesn't this burden preclude them from building equity? doesn't a lack in equity reduce the volatilty of the dollar and preclude consumer spending? so, at the moment, rubinomics is appealling more to me, but who knows, someone might convincigly contravene the concept of demand side economics to me