On the recordJanuary 26, 2010
But if the government is out there borrowing $1.3 trillion, $1.5 trillion, $900 billion, and then $800 billion-plus every year thereafter as far as the eye can see, what is that going to do to the amount of capital that is available in the private sector? Especially if interest rates go up, and the government is absorbing so much of the credit that may be available around the country and other countries, and their growing economies are also competing for those same limited resources, we are going to find it very, very hard for free enterprise to survive if our government keeps spending more than it takes in and keeps growing in the enormous size. It is projected that if you continue this rate of spending, we are going to have government spending 28 percent of our gross domestic product.
