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John Thune: “We are running a $1.5 trillion annual deficit, where over 40…”

Featuring: John Thune, Republican | Senate Majority Leader, South Dakota

Congressional Budget Reform and Policy Discussion with Speaker B

Published August 5, 2010 | Video Starts at 03:43

So the real issue here is that spending has gotten away from us to the point now where We are running a $1.5 trillion annual deficit, where over 40 cents of every dollar that is spent at the federal level is borrowed. So this isn't a tax issue. We have lots of taxes. The American people pay plenty of taxes. This is a spending issue, and that's where this has to start. (03:43–03:59)

CLAIM

Asserts that the U.S. has a $1.5 trillion annual deficit and over 40% of federal spending is borrowed.

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.

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