David Schweikert

I think there is the basis for a bipartisan compromise here.

I mean would that be a rational approach for us just to make sure that the fidelity to the fiduciary, if you can say it that way, is upheld?

In some ways it breaks my heart, and I wish we could get over this game we play around here where it is a Republican piece of legislation, and a couple of my friends on the left feel obligated to stand up and oppose it, even though you and…

And my fear is Silicon Valley is about to run around you and build optionality that says the Federal Reserve is my barrier not my partner.

I desperately hope that the Federal Reserve doesn't become one of the barriers to the adoption of the dramatically more efficient society that we desperately need for that productivity.

And to my friend the ranking member, we partially agree here but it is--like on infrastructure, if the left would be willing to work with some of those who want to stack--adjust the capital stack and how you pay for it, there is a way to…

Functionally then you have just sanctified with populations in the Western world a guarantee on the risk premium of a regime that we already know is an international bad actor?

How do we bring these different law enforcement mechanisms that our international partners--because my fear is we have too many silos out there.

In 13½ years, Social Security is out of money. In 8½ years, Medicare is out of money.

Functionally, money laundering, money movement, asset movement is actually a formal business in a corrupt sector.

I know I could do it.

So let's just do a quick thought experiment.

You have illicit actors who have billions of dollars at their disposal to be able to pay the best attorneys, the best accountants, the best bankers to come up with the most sophisticated schemes to hide illicit assets.

We had a technical issue earlier, and we had reached out to my friend's office. I congratulate your staff. They understood the mechanical issue. It was a procurement timing. It has been taken care of with the amendment to the amendment…

The goal is to be removing monetary accommodation and that should raise longer-term rates.

It is a fairly simple argument. If you want a competitive, robust financial market in our banking world, where institutions have the ability to survive because of the crushing costs that Dodd-Frank has created. This is a simple, simple…

We may be stronger than 7 years ago, but this is still crashing down upon us--

No, I need to correct that. And I know that is our script here, but that is not true.

But that gap--think about that gap. Today, the trust fund has what, $2.8 trillion? And we have burned through that principal in 14 years.

Nope. Actually, I think under the CBO study were 2018 Social Security goes negative.

There are some really ugly things happening. And you and I know much of that we desperately need economic growth to cover these sins.

Well, Congress seemed to just discover it a couple of years ago.

How much actuarial math is happening at the Treasury Department saying, 'This is our future?'

But could we spend a couple of minutes just sort of looking at the headwinds that come to the next Administration?

Congress must reclaim its Article I authority and reclaim it now.