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David Schweikert: “We right now are slated to borrow about $128 trillion in the…”

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 37:11

10,300American baby boomers turn 65 and we owe them benefits day after day after day after day. We're borrowing $51,000 a second day after day after day. And we know that We right now are slated to borrow about $128 trillion in the public markets. most. And that's both the money to. For backfilling Social Security and paying for Medicare and then the interest costs of that. And interest rates are higher now. (37:11–37:20)

CLAIM

Asserts that the U.S. is projected to borrow $128 trillion in public markets.

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
“The long run growth rate of the country is not three, three and a half but is down to 1.8.”
Congressman David Schweikert: America Is Dying And What To Do About It | Uploaded April 6, 2024 | 12:43-12:50
“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
“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