I think defense spending as a percentage GDP is down somewhere around 4 or 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. (49:51–50:02)
CLAIM
Asserts that the U.S. is financing its debt at 1.5%, the lowest rate since the Great Depression.
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