Peter Schiff appears on RT on 10/16/18 to discuss the need to reduce government spending.  Peter explains that people overlook the increase in the National Debt in that, although the official Budget Deficit is $780B, the National Debt increased by $1.2T during the same time period.  That, Peter goes on to explain, is because a lot of what the government is borrowing, it doesn’t count as part of the official budget . . . “so it actually borrows about 60% more than it is pretending to borrow”.

Peter Schiff is an American stock broker, financial commentator, and radio personality. He is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut.  He is also the author of six books published by John Wiley & Sons. His book, Crash Proof 2.0, appeared on both the New York Times and the Wall Street Journal bestseller lists.