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Ron Johnson: “Government is sucking down all that money out of the private…”

Featuring: Ron Johnson, Republican | U.S. Senate, Wisconsin

Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck

Published June 10, 2025 | Video Starts at 23:11

And you know, Reinhart and Rogoff wrote about this. This time is different. It's not once you reach a certain threshold of debt to GDP level. First of all, Government is sucking down all that money out of the private sector. Risk takers can't borrow money. So that has a negative impact on growth. Again, I may be a spark that could overcome all this, but we could be in that debt spiral right now. (23:11–23:19)

CLAIM

Asserts that government borrowing limits private sector borrowing and risk-taking.

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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Ron Johnson

“So 4.4 this year will spend over 7 trillion.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 01:42-01:46
“A dollar you held in 1998 is worth 51 cents.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 17:57-18:01
“We're going to spend $14 trillion on interest.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 18:34-18:38
“We're going to have to roll over $9 trillion of our national debt this year.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 19:58-20:02
“We spent $4.4 trillion in 2019 pandemic hits, spent 6.5, and we never looked back.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 01:21-01:29
“Under The Bush administration, eight years, they average deficits of $250 billion a year.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 01:58-02:04
“Obama came in his first four years, 1.3 trillion.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 02:04-02:09
“Trump comes into office, had to do deals with Democrats. His average deficit was 810.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 02:17-02:23
“Biden continued to spend again this year about 7 trillion. His average deficit for four years was 1.9 trillion.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 02:38-02:45
“During COVID that other mandatory, not Social Security, Medicare, or even Medicaid, I think went up top down about $2.2 trillion in 2019 was…”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 04:53-05:05
“We fund the border, we fund defense. This House did a pretty good job of identifying about $1.5 trillion in spending reduction.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 07:07-07:15
“We extend current tax law. We take an automatic tax increase off the table.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 07:15-07:19
“Republicans, we realize we have a massive debt and deficit problem.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 08:38-08:42
“The House was all focused on getting this thing done and they pulled, literally they pulled $1.5 trillion out of the air.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 08:51-08:58
“What we're trying to do is fix the Obamacare portion of Medicaid called Medicaid expansion.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 09:19-09:25
“A father of a 17 year old autistic child can't get home care for 10 years because he's being crowded out by single adults.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 09:45-09:54
“We've never done it. And even this process, you'll notice they've exempted most spending, most programs.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 10:30-10:36
“That dollar is now worth 80 cents.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 18:11-18:14
“Right now, according to CBO, we'll be paying about 3.4% interest on our debt over the next 10 years.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 19:28-19:34
“Since the turn of the century, we've averaged 2.2% growth.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 22:58-23:02
“Reinhart and Rogoff wrote about this. This time is different. It's not once you reach a certain threshold of debt to GDP level.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 23:03-23:11
“We're seeing the bond markets are doing we can't control long term interest rates. That's going to be up to our creditors.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 23:45-23:51
“The bond markets have been telling that they're going to demand a higher and higher interest rate to refinance that $9 trillion.”
Senator Ron Johnson Brings His Charts to the Studio to Talk Cutting the Budget | Clay and Buck | Uploaded June 10, 2025 | 23:52-23:58