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John Cornyn: “Our national debt currently sits at about $38 trillion.”

Featuring: John Cornyn, Republican | U.S. Senate, Texas

Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending

Published February 25, 2026 | Video Starts at 06:39

Of course, in addition to these are many other savings for the American people. President Trump made significant strides in getting our fiscal house in order by reining in starting to rein in runaway government spending. Our national debt currently sits at about $38 trillion. and I know that number is boggles the mind. None of us can really adequately conceive of how much that is. But here's one indication. (06:39–06:45)

CLAIM

Asserts that the national debt is approximately $38 trillion.

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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John Cornyn

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“Now they can don't have to pay taxes on income from tips up to $25,000.”
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“There's no tax on overtime.”
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“The Government Accountability Office has documented that there is between $2 to $500 billion of improper payments.”
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“Our debt servicing costs or the interest payments on the debt have eclipsed spending on national defense.”
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“President Trump has many achievements that we can all be very proud of, from securing the border, from the massive surge of illegal…”
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“We prevented more than a $4 million tax increase on the American people and saved my constituents in Texas an average of $3,000.”
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“We help working families by increasing the child tax credit to $2,200 and indexing it to inflation.”
Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending | Uploaded February 25, 2026 | 03:53-04:15
“We delivered historic relief to hourly wage workers as well.”
Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending | Uploaded February 25, 2026 | 04:50-04:55
“We spend more money on interest on the national debt than we do on defense.”
Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending | Uploaded February 25, 2026 | 06:55-07:00
“We made a down payment in the Working Family Tax cuts Act, saving $400 billion over 10 years.”
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“Our national debt is actually not a revenue problem... It's a spending problem.”
Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending | Uploaded February 25, 2026 | 07:56-08:13
“Last year we made important reforms in our mandatory spending programs to make sure that, for example, illegal aliens don't receive free…”
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“Mandatory spending reforms in Medicaid, student loan forgiveness and food stamps will add up to $2 trillion in savings over the next 10…”
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“Deregulation, taking the handcuffs off of the huge American jobs engine, and tax reforms are expected to spur economic growth, which the…”
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“OMB's projections include nearly $2 trillion in savings from lower debt servicing payments.”
Cornyn on President Trump's SOTU Address, OMB's Efforts to Rein In Spending | Uploaded February 25, 2026 | 13:43-13:51
“The government is projected to save between 26 and $30 billion due to reduction in the federal workforce.”
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“Fiscal year 2026 non defense discretionary spending totaled $18 billion less than 2025.”
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“Overall spending levels were about a billion dollars less [in fiscal year 2026 compared to 2025].”
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“President Trump and his Office of Management and Budget have put the United States on track to erase trillions of projected spending over…”
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