And that's why if you have a bad credit score, you pay higher interest than people with a good credit score. Of course, it's the same free market analysis. And so If we crash a national debt, interest rates go up here and all over the world. which will cause a recession all over the world and conceivably a depression. Now if you want to do that just to make a political point that we should spend less, you don't need to do that. (10:23–10:29)
CLAIM
Asserts that a national debt default would cause global interest rates to rise.
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.
