CSPAN3 Politics Public Policy Today January 27, 2015
The tax issue. Shai mentioned at the outset that another component of the federal budget that is fast growing, and will continue to will grow fast, depending upon something that is right now being controlled and almost by Global Economics and that is Interest Rates, that the Fastest Growing component of the federal budget will be if Interest Rates normalize back at 5 will be just paying the interest on the public debt. Our public debt right now is close to about 17 trillion total gross debt, 17 trillion. And one thing that that debt means to me, it is a tax, it is a tax on future generations. ...