The truth is, it's taken us a long time to get to $37 trillion in debt, but it's now reached the point of unsustainability. We are spending more money on interest on the national debt than we are on defense. In an increasingly dangerous world, that alone is unsustainable. But Ronald Reagan described our spending problem back in 1984 when he said these famous words. (02:30–02:36)
CLAIM
Asserts that U.S. interest payments on national debt exceed defense spending.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
