The spending cuts are talking about, they're paltry, 1.5 trillion. Some of those are fake, some of those are extended way out. They're offset by 10 years. 10 years. Right now we're borrowing probably about 3.3%. That's been the average over the last 25 years, 3.3%. And that's kind of where we're at right now. If we increased that interest, if that interest expense increases to or rate increases to 4.3%, add another $4 trillion in deficit spending. (14:23–14:30)
CLAIM
Asserts that the U.S. borrowing rate has averaged 3.3% over the last 25 years.
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