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David Schweikert: “In like 25 years, maybe slightly longer, every dime of…”

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

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Congressman David Schweikert: America Is Dying And What To Do About It

Published | Video Starts at 37:45

And interest rates are higher now. So that's a factor. So there is a problem if long run interest rates stay 2% higher than they did in the last decade, In like 25 years, maybe slightly longer, every dime of current of tax receipts goes just to pay interest. I have a number here that you talked about in one of your floor speeches that in 2019 interest payments cost us as taxpayers, the government, 376 billion which for … (37:45–37:51)

CLAIM

Asserts that in 25 years, all tax receipts may be used solely for interest payments if interest rates remain high.

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