So in nine years baseline under a favorable interest rate model, 30% of all US tax receipts go to interest. And God heaven forbid if interest rates were to come up 1% because we have to this year or This coming year, I think we're going to refinance $11 trillion. The year after that I think it's 13. Because we stay so short on the financing term, we sell short term debt instead of longer term debt because turns out there's not as big an appetite. (13:18–13:22)
CLAIM
Asserts that the U.S. will refinance $11 trillion in the coming year.
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.
