Pat Ryan actually said...

Our entitlement programs--in particular government spending on health care--are the core drivers of the debt.

Growing debt would increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government's abil...

So what that means is, in the 2030s, we do not think we can measure the economy going forward because the debt burdens.

I think the 10 year note went down as much as 1.5.