He says that the US brings in $200 billion in tax revenue every month, and spends about $20 billion in interest payments. So there is plenty of money to pay interest (and thus not default), SS, and military salaries. (He doesn’t state individual figures for SS or military salaries, but says that after those 3 categories, there’d be $70-$80 billion for “more government”.)

Also, he’s against the Boehner plan because it “will not balance, ever”, and in fact will add about $7 trillion to the national debt in 10 years, taking it from $14 Trillion to $21 Trillion.


PS: can somebody tell me how to embed a youtube video? The embed script from youtube didn’t work