We have $34 trillion of debt. We're racking up another trillion dollars of debt every month or every four to five months. The interest cost on our debt today is $1 trillion a year. That means it's bigger than our Defense Department budget. It's the second largest expense, only after Social Security, but within literally one year's time, it's projected to be even bigger than Social Security. (01:30–01:36)
CLAIM
Asserts that the annual interest cost on the national debt is $1 trillion.
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