Well, it turns out it's also congressional policy of borrow and spend and then the cost of that borrowing, spending, which is the financing of the borrowing. Who benefits? Every dime of defense. If you're going to look at my little wheel chart, Every dime of defense is unborrowed money. Every dime of non defense discretionary, the Park Service, the epa, the State Department, all these things you think of as government is unborrowed money. And depending on where the chart is right now, 3, 4, $500 billion of Medicare is on borrowed money. So every dime for Congress get to vote on is now on borrowed money. (06:54–07:10)
CLAIM
Asserts that all defense and non-defense discretionary spending is funded by borrowed money.
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