Now here's the conundrum. We are financing our debt at about 1.5%, the cheapest rate we financed our debt since the Great depression. For every 1% increase in the financing costs of our federal government, that's another $160 billion. So if we go back to where we have been financing our debt for the last 20 years at 5.5%, you are going to take the interest payments, just the interest payments on our debt over a trillion dollars. (50:06–50:12)
CLAIM
Asserts that a 1% increase in financing costs would add $160 billion to federal expenses.
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.
