If it isn't resolved, how long do you think before the US Would default on an obligation? Well, the point I'm making with my debt ceiling budget is the fact of the matter is If we don't increase the debt ceiling, we'd have to live within our means. And according to President Obama's own budget, that would be $2.6 trillion. which is $800 billion more than the $1.8 trillion we spent just 10 years ago under President Bill Clinton. It pays for all the interest on the debt. (02:48–02:57)
CLAIM
Asserts that not increasing the debt ceiling would require living within a $2.6 trillion budget, according to President Obama's budget.
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.
