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Senate Proceeding on Apr 13th, 2011 :: 6:39:55 to 6:41:00
Total video length: 9 hours 11 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

6:39:55 to 6:40:16( Edit History Discussion )

Bob Corker: so already with a gross debt of 100% of g.d.p., we've foregone jobs we desperately need in ohio, my home state, and around the country. this high indebtedness also comes with very significant interest payments of course. even with interest rates being so low today, near zero, the magnitude of the u.s. debt still requires a debt service this

Bob Corker

6:39:55 to 6:41:00( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

6:40:17 to 6:40:37( Edit History Discussion )

Bob Corker: year of over $200 billion. and, by the way, under the president's budget, that number increases to almost $1 trillion ten years from now based on the congressional budget office analysis. $1 trillion a year just in interest payments on the debt. what concerns me is that interest rates could well go up

Bob Corker

6:40:38 to 6:41:01( Edit History Discussion )

Bob Corker: given this climate. one percent increase in interest revolves -- involves another $130 billion of interest payments. think about that. just a 1% increase in interest rates means another $130 billion in interest payments. obviously inflation would be

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