I think defense spending as a percentage of GDP is down somewhere around 4 something percent. But after defense at 710 billion interest payments, just interest costs on our debt is 454 last year. Now here's the conundrum. We are financing our debt at about 1.5%, the cheapest rate we financed our debt since the Great Depression. For every 1% increase in the financing costs of our federal government, that's another $160 billion. (49:51–49:59)
CLAIM
Asserts that the current debt financing rate is the lowest since the Great Depression.
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