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David Schweikert: “Every dime we vote on is borrowed.”

Featuring: David Schweikert, Republican | U.S. House, Arizona, District 1

Final September Floor Speech - David Schweikert

Published September 26, 2024 | Video Starts at 21:21

How many members of Congress will stand in front of you and say, do you understand? Every dime Someone like my friend Mr. Green and I get to vote on. Every dime we vote on is borrowed. When 14.1% of all federal spending, it's just interest. And it turns out the most powerful thing you and I could do to stabilize borrowing. (21:21–21:26)

CLAIM

Asserts that all congressional spending is funded through borrowing.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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David Schweikert

“The world, now world governments are $312 trillion in debt.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 01:02-01:10
“We're borrowing about $70,000 a second every day.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 01:20-01:26
“We will borrow a couple trillion dollars this year.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 02:06-02:10
“We've refinanced about 8 trillion and bring to market an additional 2 [trillion this fiscal year].”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 02:22-02:34
“United States is now number 14 on the credit stack.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 03:02-03:06
“Greece today can sell a 10 year bond cheaper than the United States.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 03:12-03:17
“Last November we actually put the United States on a negative watch.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 03:36-03:41
“The Social Security trust fund will be depleted [in a decade].”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 05:41-05:51
“Medicare part A... will [be] depleted [in a decade].”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 05:51-05:59
“We'll have in 10 years 22, 23% of Americans 65 and up ready for their earned benefits.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 05:58-06:06
“Every dime of defense is borrowed. Every dime a non defense discretionary is borrowed.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 06:53-07:01
“In 15 years the United States has more deaths than births.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 09:04-09:09
“In the last six years, 390,000 Americans have died of fentanyl.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 09:14-09:20
“Next year we might have a fentanyl vaccine.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 09:20-09:23
“Diabetes is 33% of all US healthcare spending.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 09:51-09:55
“Every dime of borrowing from today through the next 30 years, 75% of it is healthcare.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 13:01-13:08
“For every dollar of tax receipts we take in, we spend $1.39.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 14:02-14:11
“For every dollar we receive in taxation in the federal government, we spent $1.39.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 14:04-14:11
“18 cents of that, $1.39 borrowing is just interest.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 14:17-14:25
“In 2025, that's where still banking on no recession, no slowdown.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 15:38-15:48
“In 26, it will get also tiny bit better because working people are going to pay about $400 billion in additional taxes.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 15:47-15:57
“We calculate it's almost $3,000 per family tax hike if we don't fix this next year.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 16:25-16:34
“By the end of the decade, think of this, ten years from now, if you add in the debt we will owe to the trust funds, what's left of them…”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 17:52-18:06
“Interest today is the second biggest expenditure in this government.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 18:15-18:20
“Defense is now the fourth expenditure in this government.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 18:26-18:29
“We functionally are going to take in $4,898,000,000,000. We're going to spend $6,880,000,000,000.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 20:21-20:42
“You're functionally looking at a $2.2 trillion deficit in a year, that things are good.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 20:58-21:04
“14.1% of all federal spending, it's just interest.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 21:30-21:39
“The primary drivers of US debt, which is demographics, it's healthcare.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 22:10-22:16
“Every tax in the United States has to be doubled just to maintain baseline spending.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 23:23-23:29
“We have set up the first generation US history to be poor [than] their parents.”
Final September Floor Speech - David Schweikert | Uploaded September 26, 2024 | 23:32-23:37