Your observation is helpful in correcting the misconception that government bonds are equivalent to household debt and must be fully repaid through taxes. Interest payments (debt service costs) are a definite burden, and if interest rates rise, this burden increases rapidly. Even though the system allows for full refinancing, there are still costs and risks involved. It is essential that bond issuance is reliably absorbed by the market, which can become difficult during periods of rising interest rates or weak demand.