We're already paying roughly $1 trillion a year for interest payments on the debt alone. To double that would be draconian. And so unfortunately, The federal government is in the situation it's in due to decades of reckless spending in Washington. But it would be economically a disaster and a disaster for a lot of workers if we were in a position where the Federal government actually tripped over the debt ceiling. (12:41–12:48)
CLAIM
Asserts that decades of reckless spending have led to the current federal financial situation.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
