Are We Borrowing a Million Dollars a Minute?
In talking about foreign aid in the context of his proposed budgets, Sen. Rand Paul (R-KY) said that the federal government is “borrowing a million dollars a minute.” This claim is correct based on the current projection for debt in FY 2015. CBO projects that debt will increase by $586 billion during this fiscal year, or about $1.1 million per minute.
Ruling: True
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