Now our estimate is we're going to have interest this year, interest this fiscal year of $1.1 trillion. $1.1 trillion of interest in the 2020 fiscal year means Social Security is number one. Spend at 1,450,000,000,000. Interest will be number two. Medicare will be number three. Defense is now number four. You all heard that in the President's speech, right? And I keep trying to make the point over and over and over that it's not just those of us who think it's more ethical to do gross interest. (10:38–10:50)
CLAIM
Asserts the ranking of U.S. federal spending priorities, with Social Security first and Defense fourth.
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.
