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David Schweikert: “Twice in nine years, the borrow will be 3.8 trillion.”

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

David Schweikert's Address on Economic Challenges and Legislative Solutions

Published June 14, 2025 | Video Starts at 14:42

So we bathe in the math. Think of this. In nine budget years, we're spending.9% of the entire economy is borrowed. And that's based on our baseline. See, said that Twice in nine years, the borrow will be 3.8 trillion. And Mr. Speaker, most of that growth is interest and health care. So I'm sure we're all around here trying to revolutionize the cost of health care by curing people, … (14:42–14:49)

CLAIM

Asserts that U.S. borrowing will reach 3.8 trillion twice in nine years.

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

“Medicare Advantage fraud... it's 100/plus billion dollars a year in fraud.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 04:56-05:15
“For every dollar that was spent on people 65 and up, there were $7 spent on young people [in the 70s]. Today that's reversed.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 07:03-07:17
“Last year for every dollar we took in tax receipts, we spent $1.39.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 09:43-09:51
“47% of all American health care is obesity.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 15:52-16:01
“33% of all American health care is just diabetes.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 15:53-15:56
“Improper Medicaid payments since 2019 are over $400 billion.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 29:42-29:48
“A study suggests Medicaid improper payments could be $1.1 trillion over 10 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 29:47-30:08
“We borrow about $6 billion a day right now. Next year we're going to borrow about 7 billion.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 02:29-02:36
“In nine budget years, we're borrowing about 10 billion a day.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 02:37-02:41
“Looks like we're going to borrow 7.3% of the economy this year.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 03:23-03:27
“In nine budget years Moody says... will be borrowing 9% of GDP.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 03:27-03:35
“The preliminary number is around 1,700,000,000, to $1,840,000,000. Excuse me, trillion, sorry. $1,840,000,.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 05:15-05:31
“We've also introduced a talent based immigration bill.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 05:42-05:46
“The primary driver of debt in America is demographics, it's functionally Medicare in a few years, Social Security when the trust fund's…”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 06:20-06:32
“The number of 18 year olds we had then compared to the number of 18 year olds today, almost identical.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 06:36-06:43
“The number of our brothers and sisters who are 65 and up has almost doubled in that 20 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 06:43-06:53
“We estimate that it's over a trillion and a half dollars, 1.5 trillion [in forgotten funds].”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 08:56-09:02
“Our taxes are all going up next year. In my district, it's over a couple thousand dollars for an average family.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 11:10-11:20
“Small businesses in my district will be hit with a 43% tax hike.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 11:55-12:01
“We're baseline going to spend $68 trillion over the next 10 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 12:41-12:47
“All we're talking about cutting is functionally 2.2, 2.3% of it [the $68 trillion].”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 13:01-13:07
“In nine budget years, we're spending 9% of the entire economy is borrowed.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 14:26-14:33
“In nine budget years we go from today where we borrow $6 billion a day, we're going to be borrowing $10 billion a day.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 16:45-16:52
“Most of America is poorer today than they were four years ago and that's basically inflation.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 17:29-17:41
“If you don't make about 27 +% more than you did four or five years ago, you are poor today.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 17:44-17:51
“The day we were all re-elected or elected last November, public sold debt was around 28 trillion.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 19:30-19:38
“We will almost double [the public sold debt] in the next 10 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 19:48-19:51
“The 65 population has nearly doubled in 20 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 20:55-21:00
“The number of 18 year olds is basically the same [as 20 years ago].”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 21:01-21:06
“The Social Security trust fund is emptied, basically. Meaning if the Social Security follows the law, there's going to be...a 21% cut in…”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 21:46-22:07
“Eliminating the cap on Social Security at that time only covers 38% of the shortfall.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 22:29-22:34
“Individual taxes go up, what, 3.1% trillion dollars over the next 10 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 23:50-23:55
“We've introduced a bill. Our first number was $1.76 trillion in savings, just reorganizing, redesigning the incentives within Medicare Part…”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 24:51-25:04
“Our preliminary number from CBO wasn't 1,706,000,000 over 10 years. It turns out they gave us a 1.84 as a preliminary guess.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 25:19-25:33
“Seniors on Medicare Advantage will be healthier because the incentive is to keep them healthier.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 26:35-26:44
“Still 14.67 trillion is the baseline spending over the next 10 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 27:10-27:19
“Arizona was the last state to enter Medicaid, not until the mid-80s.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 28:48-28:51
“Arizona buys managed care policies for Medicaid, functioning as managed HMO policies for the indigent population.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 29:00-29:03
“Social Security, Medicare, and net interest account for 80% of spending growth over the next nine budget years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 33:26-33:35
“Military and non-defense discretionary spending are scheduled to grow slower than tax receipts over 30 years.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 33:38-33:47
“Some states had applications for Medicaid work requirements approved, but the Biden administration halted them.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 34:57-35:14
“University of Chicago did an amazing study on what work requirements do in benefit programs.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 35:40-35:49
“The participants [in benefit programs with work requirements] are wealthier because they may get the benefit, but the work requirements…”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 35:49-35:59
“You're crushing people. You're destroying their economic futures, their ability to learn skill sets, how to participate in the economy.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 36:16-36:25