This is more raw footage from the documentary Bubble. 

Grant is something of an expert on interest rates. One interesting point Grant made was that if interest rates returned to a more normal rate of 5%, then in order to pay this interest the Federal Government would have to cut spending by 40%. When this is added to the fact that we should also cut spending by 40% right now to balance the budget, we have a potential disaster of 80% cuts in spending. 

I am something of a spending hawk, but even I find this appalling.

I am not worried about the supposed fiscal cliff, I am worried about some combination of factors that leads to a fiscal tsunami if nothing is done in the next 2 to 6 years.