CSPAN Public Affairs February 12, 2013
C. B. O. Projects that we are entering a future in which our debt is so great that our Fastest Growing item in the budget will be Interest Payments. According to c. B. O. Annual interest costs will total 5. 4 trillion. By 2020, seven years from now, interest costs are expected to exceed the cost of National Defense. And i just left the Defense Committee hearing talking about the sequester and how damaging that will be to the Defense Department, because half of the cuts follow 1 6 of the budget and that is the Defense Department and that is too severe and they need to be spread out across the e...