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Ron Johnson: “Interest payments in December 2024 were $140 billion.”

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

‘They Pay A Really Heavy Price’ Ron Johnson Warns About How Inflation Affects Seniors

Published February 4, 2025 | Video Starts at 06:06

And this needs to be pared back dramatically and radically. So Mr. Chairman, just one quick question. In Mr. Antoni's testimony, you know, you say that Interest payments in December 2024 were $140 billion. Now the interest expense I've been using in my analysis here was Biden's budget number at 965. You're saying that interest is going to be 1.2 trillion, but even the 140 is comes out till about 1.6, $1.7 trillion. (06:06–06:11)

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Asserts that interest payments in December 2024 amounted to $140 billion.

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Ron Johnson

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“A dollar you held only 10 years ago, in 2014 or 12 years ago, is now worth 74 cents.”
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“A dollar we held before the pandemic started was about 80 cents.”
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“Massive government spending, deficit spending, printing the dollar too many dollars, chasing too few goods [causes inflation].”
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“We certainly didn't need the Inflation Reduction act, which sparked 40 year high inflation.”
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“Last five years we've averaged $6.5 trillion [in spending].”
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“Last year we spent 6.9 [trillion]. This year we'll probably spend about $7 trillion.”
‘They Pay A Really Heavy Price’ Ron Johnson Warns About How Inflation Affects Seniors | Uploaded February 4, 2025 | 02:59-03:02
“If you go back to Bill Clinton's 1998 budget...we would have a spending level of $5.5 trillion.”
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“President Biden's projecting $5.5 trillion of revenue.”
‘They Pay A Really Heavy Price’ Ron Johnson Warns About How Inflation Affects Seniors | Uploaded February 4, 2025 | 04:02-04:09
“We shouldn't be spending at $7 trillion level over 50% higher than the start of the pandemic.”
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“Biden's budget number at 965 [billion for interest expense]...interest is going to be 1.2 trillion.”
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“The 965 is a reasonably accurate [number for net interest].”
‘They Pay A Really Heavy Price’ Ron Johnson Warns About How Inflation Affects Seniors | Uploaded February 4, 2025 | 07:07-07:10