Nine budget years, net net borrowing. And we're going to talk about the difference between net borrowing and gross borrowing. Net borrowing, $50.6 trillion. Now this, when we say net, this is the stuff we have to sell to the public. To the nice family in China that takes their savings and is willing to buy a U.S. savings bond. Your retirement that goes out and buys a US Savings bond, we are about to continue to consume. (12:26–12:37)
CLAIM
Asserts that net borrowing will be $50.6 trillion, which is the amount sold to the public.
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