… of people that, that don't need it, take advantage of it and in so doing bankrupt our nation. One of our problems, the thing that I'm really concerned about is Our national Debt is almost $17 trillion. It exceeds the size of our economy. And if we hit a debt crisis, if interest rates spike, if we just go back, Pedro, to the 30 year average interest rate of 5.3% from 1970 to 1999, that would add more than $600 billion per year to our interest payment. (11:11–11:16)
CLAIM
Asserts that the U.S. national debt is nearly $17 trillion and is larger than the economy.
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.
