It's an uncomfortable but I do want us to think about as we get more and more of our financial stresses as our borrowing costs. Now, we saw Treasury yesterday basically release an update that's saying gross interest this fiscal year will top a trillion dollars. You know what that means? Social Security is our number one spend. Interest just became our number two spend. Medicare is our number three spend and Defense now is our number four spend. (01:26–01:36)
CLAIM
Asserts that the Treasury reported gross interest will exceed a trillion dollars this fiscal year.
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