When interest rates are this high on US sovereign debt and you have 10 trillion coming to market, maybe 2, 3 of that is new debt. The rest is refinanced. What would happen if you had a spike back to normal? Remember, We're already modeling right now approaching 1.2 trillion in interest this fiscal year becoming the second biggest expense in US government. And look, I had this chart and I didn't have time. I was going to cross it out again. But I do need to explain one thing because I want to be technically accurate. (17:50–18:04)
CLAIM
Asserts that interest payments on U.S. debt are projected to reach $1.2 trillion, becoming the second largest government expense.
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.
