David Schweikert: “One of the reasons for taking this time--and it was only about 3 weeks ago we actually took the leadership hour and we…”

“One of the reasons for taking this time--and it was only about 3 weeks ago we actually took the leadership hour and we did a series of presentations on what was happening in debt and the excessive spending in the Federal Government, what was driving it and what was happening with mandatory spending. Then the very next morning, CBO issued an update. Have you ever had one of those moments in your life where you just spent almost an hour on the floor walking through the numbers, and you get a document and you start digging into it, and you find out a number of the things you presented just 14 hours earlier were wrong? But, sadly, they were wrong in the wrong direction, if there is such a way to phrase it. Think of this: From January's Congressional Budget Office number until June's number, the U.S. debt deficit this year, the U.S. deficit this year, grew by $134 billion as our projection for the end of the year. So, functionally, the deficit for 2017, the fiscal year we are in, we will come very close to $700 billion this year. {time} 1900 It is going to be 693 is the projection. And if anyone saw--I think it was yesterday or the day before--Mick Mulvaney over at OMB, was projecting, from the White House's calculations, that the deficit this year was going to be about $704 billion. So we put together this slide next to me just to make it clear how much that is, to just sort of understand what is going on and trying to put this in perspective. Okay.…”