Mitt Romney: “We're adding a trillion a year to the deficit and to the…”

“I'll never pay it off, but I hope people recognize they're paying the interest on the debt right now. Last year we spent $300 billion on interest, the national debt, and that's going up to 700 billion. We're adding a trillion a year to the deficit and to the debt. And this is, this is under Republican leadership. It is inexcusable. We're spending $4 trillion a year as a government. We're only taxing 3 trillion. We're a trillion short.” (38:38–38:44)

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.