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David Schweikert: “We borrow about $6 billion a day right now. Next year we're…”

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 02:29

My argument for everyone here is there's a way to pay for lots of this. It still doesn't save us as a country. We borrow about $6 billion a day right now. Next year we're going to borrow about 7 billion. I'm going to show you some charts. In nine budget years, we're borrowing about 10, 10 billion a day. And the vast majority of that is demographics. (02:29–02:36)

CLAIM

Asserts that the U.S. is currently borrowing $6 billion daily, projected to increase to $7 billion next year.

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
“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
“Twice in nine years, the borrow will be 3.8 trillion.”
David Schweikert's Address on Economic Challenges and Legislative Solutions | Uploaded June 14, 2025 | 14:42-14:49
“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.”
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