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David Schweikert: “The long run growth rate of the country is not three, three…”

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

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

Published April 6, 2024 | Video Starts at 12:43

So you get three and a half today, but the next day, the next three and a half is on top of that. And then on top of that we're now projecting The long run growth rate of the country is not three, three and a half but is down to 1.8. That is a dramatic, dramatic change. The first way you think about it is it takes more than twice as long because remember, you lose the compounding effect. (12:43–12:50)

CLAIM

Asserts that the projected long-term GDP growth rate for the U.S. has decreased to 1.8%.

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 United States is down to about 1.7 children per female and you need to be at least 2.1 for population stability.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 03:09-03:24
“US debt is absolutely out of control. Today we're borrowing about $51,000 a second.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 05:18-05:26
“In about nine years, we're over 90,000 a second. Almost all that growth is Medicare, the additional spending on healthcare.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 05:27-05:40
“Every dime of foreign aid is about 12 days of borrowing.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 06:01-06:05
“We have what, about 67 million baby boomers.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 06:18-06:22
“Half the states in the United States already have more deaths and births in 18 years.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 10:56-11:03
“In 23 years you have to double US taxes to maintain current services.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 13:34-13:45
“In the first seven months of the 23 fiscal cycle, entitlement spending is up 11%.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 15:51-15:59
“Medicare was up 16% [in the first seven months of the 23 fiscal cycle].”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 16:01-16:04
“We just lost a whole year in Social Security's actuarial life.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 17:45-17:51
“We think there's about three and a half million prime age males missing.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 18:31-18:36
“Obesity may be our leading killer, then drugs, then cars.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 19:00-19:07
“We've had an administration that's chosen to leave the border wide open.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 20:24-20:32
“The importation of poverty, you crush the working poor in your own country.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 20:43-20:50
“Half of the working population pays really are almost no income taxes.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 23:18-23:25
“There just is not enough income and wealth there to cover our obligations.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 24:07-24:13
“The number of students available for education, the number of young people are shrinking.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 24:40-24:46
“Millennials and those sorts of things don't have the same levels of productivity.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 24:57-25:04
“AI leaping beyond [chatbots] in what it's capable of doing.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 25:49-25:54
“You will see, go to your cable and AI is terrifying. Robots are terrifying.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 27:47-27:53
“Every dime of borrowing, 75% of it is Medicare. 75% is Medicare, 25% is Social Security.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 30:42-30:50
“Social Security trust fund runs out nine years.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 30:53-30:56
“The average Social Security recipients will get a 25% cut in their check.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 30:59-31:06
“In the 1970s, for every dollar it went to a senior, $5 went to young people.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 32:24-32:31
“We're borrowing $51,000 a second day after day after day.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 37:02-37:08
“We right now are slated to borrow about $128 trillion in the public markets.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 37:11-37:20
“In like 25 years, maybe slightly longer, every dime of current of tax receipts goes just to pay interest.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 37:45-37:51
“We've raised spending on veterans in like the last eight years by 191%.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 38:56-39:07
“The actual population being served [by veteran services] is now falling.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 39:15-39:18
“It's immoral. We're going to double senior poverty in nine years.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 43:25-43:29
“Social Security over the 75 year... is 202 trillion short.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 44:20-1:28:07
“The systemic threat that takes down a republic is ultimately a debt crisis.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 46:07-46:15
“You inflate your currency... you pay for everything with the printing presses.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 46:41-46:51
“Both Australia and Canada got themselves really upside down in previous decades.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 47:37-47:44
“Their formula... was like an 85. 15, 85% fiscal constraint, 15% new revenues.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 47:46-47:56
“Medicare is the primary driver of the debt because that really upsets people. But it is the math.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 49:26-49:33
“Health care cost is the primary driver of US sovereign debt.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 50:11-50:17
“5% of the population is over 50% of all healthcare spending.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 51:27-51:35
“By the end of the decade it could be the single most powerful thing you could do to stabilize U.S. debt to the size of the economy.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 53:50-54:00
“Telehealth may have been the most lobbied against policy if it weren't for the pandemic.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 55:32-55:40
“Government chooses not to reimburse [telehealth technology].”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 57:15-57:18
“Many State licensing says we're not going to let that algorithm write a script, a prescription to you.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 57:18-57:27
“We have far, far exceeded corporate tax receipts than we ever expected when we did the December 2017 tax.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 59:58-1:00:08
“By the following fourth quarter tax receipts were already up.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:00:35-1:00:42
“During the Obama administration, we need to control the Internet. Okay. So we had net neutrality for like one year.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:01:07-1:01:14
“The capital expenditures on the pipes, you know, the ability to move huge amounts of data crashed in the United States [during net…”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:01:13-1:01:24
“If we had had net neutrality from the Obama administration to when the pandemic hit, you wouldn't have worked at home because the Internet…”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:01:37-1:01:48
“The debt is going to take down this country now.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:04:11-1:04:17
“100% of the next 30 years of debt, 75% is the shortfall in Medicare, 25% is the shortfall [if we backfill] Social Security.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:06:37-1:06:47
“I can come up with a few hundred billion dollars, like in 20 minutes.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:07:01-1:07:06
“If you could crowdsource air quality, well, why can't you do that with financial markets?”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:09:07-1:09:14
“Congress has become a protection racket... It's protection of bureaucracies, protection of business models.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:10:57-1:11:14
“In just the last year, we've done a soft nationalization of the CHIPS industry, of the solar industry, of the electric car industry, of the…”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:12:11-1:12:22
“The government always gets about 18 and a half, you know between sort of 17 to 20 and 19% of the economy in tax receipts.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:16:35-1:16:47
“We're actually right today seeing a major fall in capital gains taxes.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:17:50-1:17:55
“Even Japan has opened up its border and started to bring in high skilled workers.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:20:19-1:20:26
“Right now Social Security taxes are what, 12.4.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:22:53-1:22:57
“Approaching almost 60% of Medicare spend will have some relationship to obesity, diabetes or Alzheimer's.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:23:19-1:23:31
“In some universities, females are graduating at double the rate.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:24:01-1:24:05
“16% of health care is people not taking their drugs like they should.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:26:42-1:26:48
“That's almost $600 billion this year.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:26:50-1:26:55
“10% of healthcare costs may be overprescribing because you have multiple drugs using the same neural pathways.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:27:29-1:27:38
“Diabetes is one of the single biggest cost drivers of government in the United States.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:30:53-1:31:02
“Cure the misery, which we're on the cusp of being able to do.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:31:29-1:31:36
“Force the political class to see the disruption is the solution.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 1:31:37-1:31:43