Why is that relevant when you have $35 trillion in debt? The interest cost on our debt now is bigger than our defense department budgethe It is going to start squeezing out federal spending at every level. It is also the reason why inflation has been ignited. Look at the price of food, look at the price of energy, look at the price of housing, look at the price of insurance. (05:04–05:09)
CLAIM
Asserts that high interest costs will reduce available federal spending.
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