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Ed Case: “The federal government has never defaulted on our national…”

Featuring: Ed Case, Democratic | U.S. House Hawaii, 1st Congressional District

@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol

Published February 20, 2026 | Video Starts at 16:28

We borrow it by issuing government bonds. Right. People around the world invest in our securities in our federal government. Why? Because they think we're the safest investment out there. The federal government has never defaulted on our national debt. And so it's not like other countries that are unstable politically, socially, economically. People around the world, including other countries, invest in our federal government, lend us money because they … (16:28–16:34)

CLAIM

Asserts that the U.S. federal government has never defaulted on its national debt.

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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Ed Case

“Interest that we're paying on our borrowings is 13% of the total [federal spending].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 14:41-14:47
“We now have national debt...of $38 trillion.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 17:42-17:45
“We've got the largest single military construction project in the entire country here right now. Pearl Harbor dry dock number five.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 25:24-25:33
“Medicaid is our social safety net health care program which benefits somewhere around 461,000 of our fellow citizens.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 36:46-36:56
“Appropriations Committee... has the broadest jurisdiction of any committee.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 04:13-23:00
“I'm serving my eighth year on Appropriations.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 05:06-05:09
“I'm on the Defense subcommittee, which has half of our federal budget.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 05:18-05:23
“Also on the Homeland Security subcommittee, which as you can imagine, is kind of a pretty hot subcommittee nowadays.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 05:22-05:29
“We are going to talk about fiscal year 26 and 27 appropriation cycles.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 06:04-06:12
“We in the federal government operate on a federal fiscal year, as does everybody.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 06:54-07:03
“Our federal fiscal year starts October 1st of each year.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 07:09-07:13
“We fund the federal government once a year.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 07:20-07:25
“We have now passed 11 out of our 12 funding bills [for fiscal year 2026].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 09:01-09:07
“The only one we haven't funded is the Homeland Security funding bill.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 09:16-09:29
“ICE and Customs and Border Protection are part of the Department of Homeland Security.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 09:29-09:36
“These TSA agents at the airports are working without pay right now.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 09:59-10:04
“Our federal budget is not any different in concept from a home budget, a business budget, a state budget or a county budget.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 10:50-10:58
“We can borrow money to cover deficits.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 11:23-11:30
“We distinguish in our federal spending between mandatory and discretionary spending.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 12:07-12:14
“Mandatory spending is about 62% of total federal spending of 7.4 trillion [in FY 2025].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 13:58-14:06
“Mandatory spending is made up of Social Security, Medicare, Medicaid.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 14:06-14:11
“We had collected $1.2 trillion in revenue thus far in those three months, and we had spent 1.8 trillion.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 15:35-15:45
“We spent $1.78 trillion more than we collected [in FY 2025].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 16:09-16:13
“This was somewhere around 28 trillion only about four, six years ago.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 17:52-17:59
“We had billions of dollars in Covid borrowings, four or five trillion dollars in a very short period of time.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 18:03-18:09
“Our mandatory spending as a percent of GDP is increasing.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 19:14-19:20
“Interest is increasing and discretionary spending is decreasing [as a percentage of GDP].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 19:24-19:29
“Debt is rising as a percent of GDP.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 19:49-19:52
“We appropriate every year we focus on discretionary spending, about $1.7 trillion a year at present.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 20:13-20:22
“The NDAA said we could spend $8 trillion, but the Appropriations Committee actually spends that.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 21:40-21:48
“Federal discretionary spending... 1.7 trillion each fiscal year.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 24:46-24:57
“Defense 50%... $840 billion in the current fiscal year.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 24:58-25:08
“We have a lot of millcon construction coming into Hawaii right now.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 25:20-25:25
“The President's budget is not binding on Congress.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 26:20-26:25
“The President is expected to give us his budget request by early March.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 27:46-27:51
“In Hawaii, we have 24,000 active duty service members here, not to include our guardsmen, who are getting money.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 29:54-30:03
“21% of the total federal funding coming into Hawaii is defense related.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 30:24-30:31
“Non defense spending is about $18 billion, but that includes Social Security, Medicare and veterans.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 31:06-31:16
“We are estimating FY 2026, the current fiscal year at about $3 billion.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 33:30-33:38
“This president and this administration do not want to spend as much federal money in the non defense space.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 33:59-34:09
“They want to compress and even eliminate federal social safety net programs in health and in human services and in housing.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 34:24-34:36
“The federal government wants to reduce these areas. Science related research, environmental related research.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 35:07-35:14
“Most of the non discretionary part of our federal government is under some compression.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 35:14-35:20
“A huge bill that I voted against that did a number of things.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 36:09-36:16
“What it did was to increase expenses while reducing revenues, thus driving up national debt.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 36:21-36:30
“Continuing tax cuts for people that didn't need it, which I didn't agree with.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 36:32-36:37
“Under this bill that is compressed and reduced over a 10 year window significantly with less assistance to the states.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 37:03-37:13
“Supplemental Nutrition Assistant, which is our school lunch programs, and how we take care of our seniors and those that need extra food.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 37:24-37:35
“Sometimes about 161,000 of us rely on [Supplemental Nutrition Assistance] in one way, shape or form.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 37:35-37:43
“These two programs are being contracted. And unless the law changes, that's what's going to happen by hundreds of millions of dollars.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 37:42-37:52
“No less than $27 million shall go to Native Hawaiian health care, of which not less than 10 million shall be provided to Papa Ola Lalokahi.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 41:46-41:55
“Most of the money goes to the state of Hawaii, which then allocates it out to the city and county of Honolulu or the University of Hawaii.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 42:25-42:34
“Earmarks got out of control, wiped out earmarks for 10 years, and then we brought them back about six years ago under very constrained…”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 43:43-43:47
“I put in 15 requests in FY2026. 14 are already approved. One is approved subject to the Homeland Security bill passing.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 44:54-45:03
“We earmarked to [the Department of Land and Natural Resources] or CPF to them along with other congressional office.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 52:50-52:56
“I've done about 75 [CPFs] now, and I track them through the process.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 53:48-53:53
“Yes, the presentation will be posted on my website.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 54:15-54:19
“If I fund a program in the Department of Education for indigenous language assistance, chances are that money's coming to [Hawaii].”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 59:15-59:29
“I fund programs in the federal government for tourism, I'm pretty sure that some of that should be eligible for what disproportionate to…”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 59:34-59:42
“We also have to distinguish between what we call formula funding and discretionary funding.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 59:59-1:00:07
“A lot of transportation, dot, state, dot. Money is formula based.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 1:00:21-1:00:27
“I'm down on my deadline already, so I'm a little late on doing this. Usually I do this in January.”
@RepEdCase annual Federal Funds Workshop 2-18-26 at Hawai'i State Capitol | Uploaded February 20, 2026 | 1:01:22-1:01:28