David Schweikert: “This is one of those amendments I just felt I needed to make a point here. It is a brutal amendment, but we did some…”

“This is one of those amendments I just felt I needed to make a point here. It is a brutal amendment, but we did some calculations. Fifty-seven percent of this appropriation within this piece of this budget goes to entities that have their own taxing authority. Why do we care about that? Do you realize every dime we are appropriating here, every dime we get to vote on, lives on borrowed money? We borrow every dime of defense and every dime of discretionary if you look at the 2023 budget. It looks like we are going to do the same thing in the 2024 that we are working on right now. We borrowed $300 billion to $400 billion of functionally what is Medicare. I know that no one really wants to go near this because it is radioactive and uncomfortable, but it is math. This is from a couple hours ago, Bloomberg's headline, Bloomberg Analytics. It is behind the paywall, so if you have a Bloomberg terminal, go look it up, ``U.S. Debt Interest Bill Rockets Past a Cool $1 Trillion a Year.'' They are estimating that our interest bill for this fiscal year, total gross interest, is $1 trillion. {time} 1700 Stop and think about that. That means Social Security is the number one spend, interest just became number two, Medicare just became number three, and defense is now number four. These are numbers we were not supposed to hit for a decade. It is here.…”