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Schweikert Asks Congress – ‘Do You Understand How SCREWED WE ARE?’
azfreenews.com ^ | April 03, 2025 | Matthew Holloway

Posted on 04/03/2025 6:49:29 PM PDT by Red Badger

Congressman David Schweikert (R-AZ-01) raised an alarm about what he believes is the oncoming fiscal demise of the U.S. in a speech from the House floor.

Schweikert explained that a simple series of calculations “point to a shrinking labor force, and lack of young people in our society, and the reality that in 8 years, the United States will have MORE deaths than births,” citing the Congressional Budget Office (CBO).

CBO estimates that if the debt limit remains unchanged, the government’s ability to borrow using established "extraordinary measures" will probably be exhausted in August or September 2025. https://t.co/xqAdGulBoX— U.S. CBO (@USCBO) March 26, 2025

The congressman’s speech coincided with the release of a devastating report from the CBO, which warned that the federal government’s capacity to borrow through “extraordinary measures” will be exhausted by the end of August or September.

Speaking to the House, Schweikert laid out the dire projections of the CBO report, as well as the remarkable insufficiency of the metrics the government is using, in the face of three unassailable facts: “debt, deficits and demographics:“

“I’m going to walk you through just how dangerous the game we are playing right now, because when you look at these charts — and this is online. Go on C.B.O. from last Friday. It’s not a hard read. Why are my brothers and sisters so terrified to tell the truth to the public? You have a country that — and I’m going to show the charts, that in 7 1/2 years we have more deaths than births. You have a country that, when we get out of the extraordinary measures…remember right now we are borrowing from different funds because we are up against the debt ceiling, we may be borrowing almost $70,000 every second of every day. For those of you who turn to me and say, ‘David, I demand you balance the budget.’ I could do it tomorrow. Lets’ see…if I use the 2024 numbers for every dollar we took in tax collections, we spend $1.39.

“Tell me the 39 cents you want me to cut. And the problem with that math is that when you look at the charts, you see what’s in blue. That’s everything a member of Congress gets to vote on, defense and nondefense. The only problem is. it’s 26% of the spending. So, if you ask a member of Congress right now to balance the budget, we can do it, we can do it. Gotta get rid of all defense, all non-defense, discretionary. That’s basically the park service, the EPA, all the agencies. And then tell me what portion…because you have to pay your interest or you blow up the world economy.

“Tell me what portion of social security, medicare, medicaid, other things you want to hack away at. The reality of it is, in this fiscal year, our projection is…for every dollar we take in tax collections, we are going to spend functionally $1.36.

“Do you understand how screwed—excuse me, yeah that’s the technical economic term— how SCREWED WE ARE when we don’t tell the truth about the math?

“And it is not fixable, but it is possible to stabilize. We can stabilize this. We just have to think and do things that are hard. So often around here, the thinking part is complex and it’s hard and we have to go home and tell our constituents the truth about math.

But remember, the math will win. How many have you heard about how people are protesting and terrified there are going to be cuts? Ok, let’s actually have a moment of truth about math. This was baseline. Over the next 10 years, we are going to spend $86 trillion. Next 10 years, CBO baseline, we are going to spend $86 trillion. The reconciliation budget had $1.3 trillion in cuts, and if we get lucky, we’ll get to $2 trillion over 10 years on $86 trillion of spending.

That’s what the left over here is losing their minds over because they need something. They have lost the working middle class. They’ve lost so much, and American voters no longer trust them because the spent decades not telling them the truth about the math. And it’s not hard, except the problem is 30% of that is borrowed. 30% of that is borrowed. And people are losing their mind that we are trying to cut $2 trillion on $86 trillion of spending. That’s what this place has become. This place has become a clown show of math.

“Think about this. We are functioning and going to spend about $7 trillion this fiscal year. We’re going to take in about $5 trillion. And this is in a time when the economy is good. We’re not in a pandemic. We’re not in a war. We’re not in a recession. And understand when you take some of these charts of interest exposure into the future, one of my charts, it shows in nine budget years interest, just interest is over $2 trillion a year. Just interest. Why aren’t we running around terrified here? If you care about your retirement or someone that’s crazy like my wife and I, we are older parents. I have a 2 1/2-year-old and a 9-year-old. You do realize for my 2 1/2-year-old, when he turns like 24 or 23, 25, every tax in the United States has to have been doubled just to maintain baseline services. This is the morality of this place.

“The United States and other countries are binging on debt. The United States borrows about 40% of all the world capital that goes into sovereign loans. His argument is, your problem is, there’s not enough savings in the world. We are consuming more money. China, Europe, now Germany’s going into the debt markets as they’re raising their spending caps. What happens in a world when there’s a shortage of borrowable money? Remember, every day when we borrow, what, $6 billion a day, functionally that debt has to be sold. Most of it’s actually financed domestically. You know, it’s in this pension, it’s in this bank…And then foreigners, except the foreigners have been lowering their U.S. Debt because they’re having to finance their own governments. And you start to look at our interest payments, and there’s this concept called a term premium. When we make the bond markets nervous, we pay a higher interest rate.”

Congressman Schweikert summarized the fiscal nightmare scenario saying, “And you look at the next 10 years, it’s the point I’m trying to make. Is, ok, here’s the growth. 24% of the growth in spending over the next 10 years is interest. 31% of the growth of spending over the next 10 years is Social Security and disability. 28% of the growth of spending over the next 10 years is Medicare. Other mandatory and discretionary growth, about 13%. But a portion of that is actually you think defense and other things in that. The fact of the matter is your government is an insurance company with an army.”

VIDEO AT LINK.................


TOPICS: Business/Economy; Government; Military/Veterans; Society
KEYWORDS: 202508; 202509; arizona; cbo; centralvagina; davidschweikert; debt; spending; vamanners
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To: stanne

Also consider they always talk about compound interest.

Well same with cuts.

Saving/eliminating 2 trillion this year prevents the debt increasing at a higher rate down the road.


21 posted on 04/03/2025 8:46:03 PM PDT by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: Red Badger

Bttt.

5.56mm


22 posted on 04/03/2025 8:47:14 PM PDT by M Kehoe (Thank you Jesus. )
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To: Right_Wing_Madman

Any war will involve China. Wars are useful in that they churn the population of young men. China has millions of excess men without a hope of finding a mate. At some point, they might unify against the ChiComs. What better way to alleviate that internal stress than to ship them off to be slaughtered?


23 posted on 04/03/2025 8:58:13 PM PDT by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves.)
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To: Right_Wing_Madman

Probably.

I doubt any of this internally will get fixed. There will just eventually be total monetary collapse with SHTF/WROL situation of unimaginable proportions.


24 posted on 04/03/2025 9:29:31 PM PDT by MachIV
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To: napscoordinator

And Elon’s example of fecundity may inspire a new baby boom.


25 posted on 04/03/2025 10:09:00 PM PDT by Rockingham
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To: higgmeister

Irrelevant.

Now, why do I say that?

Because, #1, tariffs do not, ultimately, come out of the pockets of exporters to the USA: Those costs are ultimately passed on to consumers. How do people not understand this?

#2, I’m very much(!) in favor of getting rid of income taxes and the IRS, but, going to a sort of “hidden tax” to transfer money from the private sector to the public sector is NOT a good answer. That’s just a sneaky good (bad for you and me) way to suck more money out of the private sector (except that tariffs high enough to replace current income taxes will reduce trade so much that we’ll not get the infusion of cash into gov’t coffers anyway — sort of like the way cigarette taxes worked out.)

#3, the FUNDAMENTAL problem is that we are pulling too much money out of the private sector and diverting it into public sector spending that is inefficient and even often counterproductive. Whether we divert the money by taxation, tariffs, or debt, the end effect is similar, and growth stagnates. Who in “F” actually thinks a GDP growth of under 3% is impressive? With debt we can kick the can down the road a bit, but, then the interest on the debt starts to kick our butts too, eventually. God help us if we actually have to face double today’s quite low interest rates...

#4, Most of these “other nations” you mention are going into debt too. Please explain how this mountain of global debt is going to work out...

Mind y’all, I’m not universally against tariffs — in some cases they are needed at least temporarily to ensure industries critical to national defense are kept strong. They can be negotiating levers in some cases. But to finance the Federal government?? I wish it was otherwise, but, I challenge anybody to show me the math that works.


26 posted on 04/03/2025 11:43:40 PM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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Comment #27 Removed by Moderator

To: stanne

I fail to see how simple math is being a “drama queen”.

Show us math that provides an actual answer.


28 posted on 04/03/2025 11:47:25 PM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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To: Secret Agent Man

The $2 trillion is saved over a period of several years. It helps, but is a drop in the bucket. :-(


29 posted on 04/03/2025 11:50:18 PM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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To: central_va

Personal threats are irrelevant.


30 posted on 04/04/2025 12:01:43 AM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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To: Paul R.

“I fail to see how simple math is being a “drama queen”.

Show us math that provides an actual answer.”

I fail to see how this guy pretends these elected officials don’t already know the simple math he’s pretending they don’t know

They go to dc and become millionaires on their positions. They know exactly what he’s talking about


31 posted on 04/04/2025 12:06:37 AM PDT by stanne (Because they were mesmerized by Obama, the man for whom this was named, whose name they left out of )
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To: Paul R.

Only way to deal with idealistic globalist econ-Nazis.


32 posted on 04/04/2025 12:10:46 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Preachin'

At least our population is still growing. But... IF immigration is the way we are going to go, we need to get back to focusing on bringing in productive people only, toss out illegals and other criminals (”hard criminals 1st), and not millions of “economic refugees”.

AI may be able to help a lot with productivity, but, to take advantage of that, our educational system needs a major recovery. Many stereotypical “blue collar” workers, or even “coders”*, are capable of much more, but, that won’t happen with our present educational system...

*I know one who became a dentist and nearly tripled his income!


33 posted on 04/04/2025 12:13:07 AM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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To: Red Badger

Ask the deficit chicken-hawks if they factored in $Billion$ in New tariff revenue? Tariffs to these right-wing straight line thinkers is like holy water to a vampire.


34 posted on 04/04/2025 12:13:48 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: napscoordinator
Listen you cynical d!ck, Elon is working on the deficit, the debt is a totally different issue.
35 posted on 04/04/2025 12:14:58 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Drew68

Maybe if we supported Trump, tariffs and re industrialization then there would be work for people that could sustain themselves in this f-d up globalist anti Christian society.


36 posted on 04/04/2025 12:17:12 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Right_Wing_Madman

China will attack Japan, S. Korea and Autralia in the next world war.


37 posted on 04/04/2025 12:18:07 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Paul R.
Because, #1, tariffs do not, ultimately, come out of the pockets of exporters to the USA: Those costs are ultimately passed on to consumers. How do people not understand this?

WE UNDERSTAND THAT. WE GET IT.

38 posted on 04/04/2025 12:21:01 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Paul R.
At least our population is still growing. But... IF immigration is the way we are going to go, we need to get back to focusing on bringing in productive people only, toss out illegals and other criminals (”hard criminals 1st), and not millions of “economic refugees”.

Stop all immigration and let wages RISE. It seems you are wrong on every subject. Globalist Nazis are like that. You're batting a 1000.

39 posted on 04/04/2025 12:26:05 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

You still have not said anything relevant or true. (Except I accept the tag of “idealist” when it comes to freedom and partially so in certain personal matters.)

If you are incapable of posting other than personal threats and insults, do not post to me again. Period.


40 posted on 04/04/2025 12:41:51 AM PDT by Paul R. (Old Viking saying: "Never be more than 3 steps away from your weapon ... or a Uriah Heep song!" ;-))
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