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David Schweikert: “The United States now is like number 12 or 13 on the credit…”

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

David Schweikert's Address on Economic Challenges and Policy Solutions

Published June 16, 2025 | Video Starts at 28:31

But that's the underlying math and what should also be scaring people to death. Yet the hallways are full of people coming into our offices demanding more money. The United States now is like number 12 or 13 on the credit stack. Meaning. Take a look. Greece. Greece today can sell a 10 year bond cheaper than the United States. (28:31–28:37)

CLAIM

Asserts that the U.S. ranks 12th or 13th in creditworthiness.

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 MEDPAC report... shows hundreds and hundreds and hundreds of billions of dollars of waste and fraud [in Medicare Advantage].”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 02:04-02:16
“We're the only country in the entire industrialized world which hasn't moved to a talent based immigration system.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 03:42-03:49
“16% of all tax receipts cover interest this year; in nine budget years, it will be 30%.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 08:24-08:31
“A 1% interest rate increase would mean 45% of all tax receipts cover interest by 2034-2035.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 08:45-08:52
“In 2005, the model for Medicare Advantage is it's going to come in at 95% of the fee for service costs... today, according to MedPAC... it…”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 16:43-17:17
“Half of all the debt in the US bond markets has just been the United States federal government.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 22:48-22:58
“Last year's taxpayer audit said only 31% of the phone calls to the IRS were getting answered.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 24:28-24:36
“Greece today can sell a 10 year bond cheaper than the United States.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 28:38-28:43
“We have 18 states that can sell a 10 year bond cheaper than the federal government.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 28:43-28:52
“The federal government intends to spend $86 trillion over the next 10 years.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 29:38-29:45
“The number of people 65 and up has doubled [in the last 20 years].”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 02:52-03:03
“We have a shortage of young people in this country unless you deal with that reality.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 03:15-03:22
“Since the 70s, we always seem to end up somewhere between about 17 and a half to mid high eighteens [percent of GDP in tax receipts].”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 05:43-05:54
“We're heading towards now borrowing, excuse me, spending 25% of the entire economy.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 06:36-06:42
“We're going to borrow about 7.2, 7.3% of the entire economy this year.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 06:56-07:03
“The vast majority of the debt increase over the next decade is due to interest.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 09:13-09:20
“In 2033, the Social Security trust fund will be emptied.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 13:02-13:09
“In seven years, if you get a Social Security check, you're taking a 21% cut.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 13:28-13:36
“We will double senior poverty in America in seven years.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 13:35-13:41
“Raise taxes, you get 1.5% of GDP in nine years. We're borrowing 9% of the entire economy.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 14:35-14:44
“Tax people on every dime above that [Social Security cap] to put the full, what, 12.4% Social Security tax on it, but don't give any…”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 14:55-14:55
“The shortage that if you said, well, we'll just pay for it out of the general fund, I think was $608 billion.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 15:17-15:27
“Just that difference last year is $100 billion.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 17:16-17:20
“Our preliminary score from CBO of Medicare Advantage is 1,840,000,000, making that bill the single biggest savings bill for a single bill in…”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 17:55-17:55
“We've introduced three bills that cover every dime, every dime of the reconciliation budget and add, I think maybe even an extra trillion of…”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 18:49-19:03
“We're functionally the only country left in the world, industrialized world, that uses a familial based immigration system.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 19:21-19:28
“If we move to a talent based immigration system... it turns out that actually comes in at producing $152 billion of savings.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 19:54-20:08
“The forgotten funds money is $1,524,000,000,000.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 21:41-21:50
“We borrow $6 billion every day.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 22:29-22:32
“In nine years, we borrow $10 billion every day.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 22:32-22:37
“We're still going to spend 14 plus trillion, trillion being spent on [Medicare Advantage] over the next 10 years.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 25:21-25:31
“CBO has us over the next 10 years adding another $22 trillion of debt.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 27:48-27:55
“We're borrowing 7.3 [percent of GDP] this year.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 31:10-31:10
“In nine years we're borrowing 9% of the entire economy.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 31:12-31:16
“We're going to spend what, 7, 7.3 trillion this year?”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 31:25-31:30
“We're borrowing about $72,000 every second of every day.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 32:03-32:10
“In nine years, we're borrowing over $100,000 every second of every day.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 32:11-32:17
“Every tax hike, they have 1.5% of GDP and we're borrowing over 7 this year.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 32:32-32:38
“We may have only about 36 more months and we start to hit what's referred to as sort of the interest rate feedback loop.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 34:22-34:31
“If today the 10 year bond is at four and a half. You realize if it goes to five and a half in nine years, 45% of all of our tax collections…”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 34:45-35:04
“Let's communicate to those people we borrow money from that we're serious on some fiscal sanity.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 35:07-35:16
“That's how you lower the interest rates for every American.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 35:20-35:23
“That's how you give our kids and your retirement a future.”
David Schweikert's Address on Economic Challenges and Policy Solutions | Uploaded June 16, 2025 | 35:24-35:27