David Schweikert: “What we are going to do today is actually sort of a little follow-up with a couple of other things sprinkled in here. I…”

“What we are going to do today is actually sort of a little follow-up with a couple of other things sprinkled in here. I want to walk through, once again, some of the numbers and some of the good things that have happened. I want to talk also about H.R. 3, which is a reference pricing bill that has gone through Ways and Means in regard to pharmaceuticals that actually I don't think anybody understands what the underlying mechanisms are on how Europe and those actually do set drug pricing and to understand the rationing that will be coming with that. But, first off, what is the greatest threat to our society? I am going to argue it is actually the coming mountain of debt. It is not Republican or Democrat, it is called demographics. There are 74 million of us who are baby boomers. 74 million baby boomers were born in an 18-year period, we have our earned entitlements coming, and we functionally have no cash in the bank for them. So this board is really, really important, and I can't believe I don't see it in everyone's office here. This is a 30-year window. Let's actually just pull out Social Security and Medicare. Madam Speaker, you do realize that if you look at the Social Security and Medicare from the numbers, we have $23 trillion in the bank.…”