Economically, we've racked up more debt in the last three and a half years than our country's first 230 years. Think of that for a moment. Think of that for a moment. Our interest costs and our debt now are the second biggest expenditure of our federal government, bigger than our Defense Department. Because of that, our central bank, the Federal Reserve, has had to buy all of this debt and increase the money supply, which has created the bout of inflation that we've just had. (06:58–07:08)
CLAIM
Asserts that interest costs and debt are the second largest federal expenditure, surpassing the Defense Department.
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