I want to save Social Security. I want to save Medicare. The greatest threat to any government program is the massive out of control deficit spending and our growing debt. If we just return to the interest rate that we experienced in the last three decades of the last century, 5.4%, that would add $1.2 trillion per year to our interest expense. which would have to be paid without us defaulting and driving interest rates even higher. You know, yes, Social Security recipients are going to get an 8.7% raise, but that only keeps them equal with what they lost because of Biden's inflation. (19:21–19:33)
CLAIM
Asserts that returning to a 5.4% interest rate would add $1.2 trillion per year to interest expenses.
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