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Ron Johnson: “We didn't want to increase taxes. We understand how…”

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

WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget'

Published March 12, 2026 | Video Starts at 07:35

It could increase taxes on the wealthy. They didn't. So I consider it's a bipartisan agreement. We didn't want to increase taxes. We understand how economically harmful that is. So that's that point. Next couple charts. This shows again the four year average deficits. If you have 3% growth, notice it doesn't bend the deficit curve down. (07:35–07:40)

CLAIM

Asserts that increasing taxes is economically harmful.

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Ron Johnson

“When [I] entered Congress, our nation's total debt was $14.7 trillion and 96% of GDP. Soon it will hit and surpass 39 trillion and 124% of…”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 00:35-00:48
“We passed the $5 trillion debt level in 1996, 10 trillion in 2008, 15 trillion in 2012, 25 trillion 2020, and we'll probably pass 40…”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 02:32-02:49
“We've only been under 3% of GDP with our deficits seven times in those 24 years.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 03:29-03:36
“This year we'll spend about $7.4 trillion, which is 67% higher than 2019.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 05:27-05:35
“Costs at least $400 billion to comply with [the tax code].”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 10:07-10:11
“Within 10 years, it will almost certainly exceed $60 trillion and 134% of GDP.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 00:47-00:54
“At 1.8% growth, we never really go below 6% [deficit as a percentage of GDP].”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 03:47-03:52
“You literally have to have 4% growth over the next decade for us to dip below 3% in the last three years of this decade.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 03:57-04:06
“On average we collect about 17.1% of GDP [in revenue].”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 04:32-04:40
“According to the CBO, in the next 10 years, this is the most recent numbers, we'll incur $24.4 trillion of deficits over the next 10 years.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 06:29-06:40
“The estimate is $24 trillion, $7 trillion higher.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 07:04-07:09
“When the Democrats have the exact same opportunity to use reconciliation, they could have increased taxes.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 07:23-07:29
“If you have 3% growth, notice it doesn't bend the deficit curve down.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 07:49-07:55
“This is 4% growth. Now we're finally bending the deficit curve down.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:00-08:05
“By the end of the decade, you're still at $1.4 trillion.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:06-08:10
“Go back to a pre pandemic level. Spending.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:18-08:18
“If we were to do that, go back to Clinton in 98, we'd be spending $5.9 trillion this year and that's $1.5 trillion less.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:42-08:52
“That's a $15 trillion savings over 10 years.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:51-08:55
“If Clinton's too aggressive for you, go back to Obama. Be $6.6 trillion. That's $800 billion less than we're going to spend this year.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 08:56-09:05
“That's $8 trillion over 10 years.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 09:04-09:07
“Just go back to prior to the pandemic under Trump. 6.9 trillion. That saves us a half a trillion in one year, 5 trillion over 10.”
WATCH: Ron Johnson Explains To Congress 'How To Balance The Federal Budget' | Uploaded March 12, 2026 | 09:06-09:15