So the tax receipts stay level, but our spending and what is the primary driver of spending? This is get the thing we share, at least I share. That gets you unelected, but it happens to be true. From today through the next 30 years, 100% of growth of borrowing and most of the growth of spending is demographics. We got old. The fact of the matter is, when I was a kid, five to six dollars was spent for those under 18 for every one dollar for a senior. (12:58–13:11)
CLAIM
Asserts that demographic changes will drive all borrowing growth and most spending growth over the next 30 years.
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.
