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. I don't know if any of you have gotten your auto insurance bill, but when I got mine, my eyes bulged up because it jumped up by over 30% in just one year. (05:12–05:21)
CLAIM
Asserts that prices for essential goods and services have increased.
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