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Ron Johnson: “Your dollar you held in 2019 is only worth 80 cents.”

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

Senator Ron Johnson Discusses Fiscal Responsibility and Budget Reconciliation Challenges

Published May 25, 2025 | Video Starts at 21:08

But as long as the press isn't reporting out, as long as the press isn't connecting the dots, that the massive deaths of spending is why you can't afford things, why Your dollar you held in 2019 is only worth 80 cents. versus the bucket should be. By the way, a dollar you held in 1998 is worth 51 cents. Okay? So again, we don't teach people there's no public pressure in terms of reducing spending or reducing the deficit. (21:08–21:11)

CLAIM

Asserts that the value of a dollar from 2019 has decreased to 80 cents.

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

“Our average interest rate over the last 50 years on government debt is about 5.8%.”
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“A dollar you held in 1998 is worth 51 cents [today].”
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“We spent something like 5 or 6 trillion dollars globally on climate change...we haven't bent the needle.”
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“In 1930, the federal government spent about 3.5% of our GDP.”
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“Now we're spending close to 24% [of GDP] at the federal level.”
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“Our forefathers... entered World War II spending about 11.7%, ramped it up to 41% during the war.”
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“The first goal of this Republican budget reconciliation should be don't add to the deficit.”
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“The first goal of this Republican budget reconciliation should be don't add to the deficit.”
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“President [Biden] is determined to not keep funding the deep state at buying levels, return to a reasonable pre-pandemic level.”
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“You don't defeat the deep state by continuing to fund it at Biden's levels.”
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“I don't think President Trump, he's not focused on reducing spending.”
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“I can't be pressured by President Trump.”
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“Obamacare is now called Medicaid expansion.”
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“Other mandatory hit well over $2 trillion during COVID.”
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“Last fiscal year was about $1.3 trillion. This year will be over a trillion.”
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“We don't have a balanced budget requirement like states do.”
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“The appropriation committees were literally set up because the authorized committees were big spenders.”
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“Simpson Bowles didn't work. The Budget Control act didn't work.”
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“The 10-year deficit projected by CBO is $22 trillion, averaging $2.2 trillion a year.”
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“The CBO projection I'm looking at assumes we're going to gain another $4 trillion from increasing taxes.”
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“Going from 37 to $59 trillion in debt is a rosy scenario.”
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“They've just transferred [federal spending] into mandatory spending.”
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“We are operating for this fiscal year under a continuing resolution.”
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“The answer was something like $6.3 trillion because we had gone from 4.4 trillion in 2019 up to 6.5.”
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“We're down here about 3, somewhere around 3% [interest rate on government debt].”
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“Clinton, if you use that process, go from 1.7 to 5.5 trillion.”
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“Obama would be 6.2 [trillion], Trump's 2019, 6.5 [trillion].”
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“Show me a member of Congress who ever lost the election because they spent too much money.”
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“We did not simplify the tax code in 2017.”
Senator Ron Johnson Discusses Fiscal Responsibility and Budget Reconciliation Challenges | Uploaded May 25, 2025 | 23:43-23:46
“I think it's insane that we've been shutting down coal fired electrical generation.”
Senator Ron Johnson Discusses Fiscal Responsibility and Budget Reconciliation Challenges | Uploaded May 25, 2025 | 25:26-25:31
“Congress was oblivious and ignorant of all this waste, fraud, and abuse.”
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“The last time I looked at Doge's website, they were up to 165 things higher than that.”
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“President Trump in his first administration sent up a $15 billion decision package.”
Senator Ron Johnson Discusses Fiscal Responsibility and Budget Reconciliation Challenges | Uploaded May 25, 2025 | 31:03-31:08
“Any Republican that voted would vote against the rescission package ought to pay a pretty huge political price.”
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“The hard number accepted by and expected by a lot of senators...is $6.5 trillion of spending in 2026.”
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“We've gone from 4400 billion to 7000 billion dollars worth of spending.”
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“Right now we're expected to spend about 7.3 trillion next year.”
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“So that implies about $8 trillion in deficit reduction rather than 1.5 trillion that the House has in their meager House reconciliation…”
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“We went from 4.4 to it'll be 7.3 next year.”
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“The coalition they have made up of the media, primarily social media companies, that type of thing, their relentlessness of letting all…”
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“I think they do cheat in voting.”
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“The Liberal candidate got 78% of Kamala Harris's vote. The Conservative candidate got 62% of Donald Trump's vote.”
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“States are probably somewhere 12 to 15 [percent of GDP].”
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“As government grows, your freedom recedes.”
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“I put together a video... President Trump at the State of the Union saying he was going to balance the federal budget.”
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“I first focus on spending. Okay, 89.3 trillion.”
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“That represents the just unprecedented, other than World War II increase in spending from 2019 of 58 to 60%.”
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“By 1948, they were down to 11.4%.”
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“We also have to focus on economic growth through the private sector, not fueled by government deficit spending.”
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“This is what we have to do to win the majority, maintain the majority in the house in 2027.”
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“It's developing a process that will achieve, maintain a pre pandemic level spending, you know, just a lower spending level.”
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“OMB said we don't have enough time.”
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“Senate leadership's the only one that's been fully behind what I'm trying to do here.”
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