Former Sen. Rick Santorum Delivers Powerful Warning in Montana

He tried to warn us about Mitt Romney in 2012. He tried to warn us about a lot of things. Will Americans finally heed the warnings over our national debt delivered by former Senator Rick Santorum (R-PA) in Billings Monday night?

If you missed Monday night's national debt forum that took place in Billings, don't worry- our friend David Knobel shared the entire video on his @LCTRfan YouTube page which you can see below.

Plus, we got to catch up with former Senator and 2012 Presidential candidate Rick Santorum in our radio studios Tuesday morning. How bad is the national debt getting? How long before the debt bomb blows up in our faces? How is government spending driving inflation?

Sen. Santorum: People suffered in the last few years from Biden's presidency, which, since Biden has taken office the inflation is up almost 19%. And people are feeling it and they see the cost of it. Imagine 19% a year. Think of 40% a year. An Argentina, and we're not Argentina, that's 200% a year. So you just don't understand the economic devastation that is in the offing unless we get this under control.

Santorum directly linked the massive government spending in Washington, DC with high inflation.

Sen. Santorum: He's spending $2 trillion more this year than we're taking in. Usually when the economy is good you actually cut federal spending, because you don't need to pump up the economy. But Biden keeps putting more money out in the economy, and guess what happens? You get inflation.

So what do we do about it? Can Congress fix it? What about a Balanced Budget Amendment in Congress?

Senator Santorum and State Senator Tom McGillvray (R-Billings), who organized Monday night's event, both believe that the only way to fix it is to organize an Article V Convention of States. Here more about that in the audio and video below.

Full audio of our chat w/ Sen. Santorum, State Sen. McGillvray, and callers:

From our previous report:

As McGilvray points out, the deficit has been rising at $1 trillion every one hundred days. Also, interest costs on the debt will surpass the defense and Medicare in FY 24.

Sen. McGillvray: Keep in mind that most of our debt was financed under 2%, and I know that about 75% of that debt's financed under 2%. In the next two to three years, you got about 30% of that debt, or about 13 trillion that has to be refinanced at higher rates, 4 to 5%. So add 13 more trillion at 4 to 5% plus another 5,6,7 trillion- add it on that you have to finance at those high rates. If you look at the debt clock, it is projecting out in 2028 you'll be paying 2.6 trillion of interest. That's 40% of revenue. Think of it this way. If you're making $100,000 a year, and $50,000 of your income is going to pay interest on your credit cards, you are in serious trouble.