You know, the president's own budget in 2012 estimates we'd be getting revenue in at the rate of $2.6 trillion a year. That's $800 billion more than we were spending just 10 years ago. So now, you know, $2.6 trillion pays for all interest on the debt, 100% of Social Security, and still leaves $1.6 trillion for Essential Defense security, safety and health spending. Now, it would not be the end of the world by any means, and it is irresponsible of this administration to be out scaremongering. I totally agree with Stanley Druckenmiller. (04:33–04:45)
CLAIM
Asserts that $2.6 trillion in revenue covers interest, Social Security, and leaves $1.6 trillion for other essential spending.
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