Bernanke: A Trillion Here, a Trillion There

U.S. Senator Jim DeMint (R-SC) questions President Obama's Federal Reserve Chairman Ben Bernanke how increasing interest rates will affect U.S. debt payments. Bernanke stated that a 1% increase in interest rates would cause $100 billion per year increase in size of U.S. debt, or $1 trillion in new debt over 10 years. DeMint stated: "That's real money." Bernanke responded: "A trillion there, a trillion here... doesn't make that much difference."