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. It pays for 100% of Social Security and still leaves $1.6 trillion for all their essential spending. And, Neil, that's only $200 billion less than we spent just 10 years ago. So it doesn't have to be a crisis if we actually plan for it. (03:04–03:14)
CLAIM
Asserts that the $2.6 trillion budget would cover interest on the debt, Social Security, and leave $1.6 trillion for essential spending.
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.
