And we won't get out of this. You know, even at our age, the simple fact we are entering ourselves or put ourselves into a debt trap. In the last three and a half years, we've added more debt to our economy and to this or to this government than our first 230 years of our country's history. The interest costs on our debt now is the second largest expenditure after Social Security, above our Defense Department, and is projected over the next 12 to 18 months to go from $1 trillion to 1.6 trillion, eclipsing Social Security. (10:24–10:36)
CLAIM
Asserts that more debt has been added in the last three and a half years than in the first 230 years of U.S. history.
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.
