NE Valley Times

U.S. Representative David Schweikert of Arizona delivered a speech on the House floor following a meeting with Elon Musk, Vivek Ramaswamy, and other members of DOGE. The discussions focused on using technology to improve economic processes while maintaining moral standards. Rep. Schweikert emphasized the importance of considering the global impact of U.S. economic decisions, noting that "when there is a hiccup in the economy, the rest of the world gets a cold."

In his speech, Rep. Schweikert highlighted concerns about Congress's reluctance to address financial realities: “Just before we went on Thanksgiving– so, a couple [of] weeks ago– I held up this board saying, 'Hey, we’re going to hit $36 trillion of borrowing in the next day or so.'” He expressed alarm over rapid borrowing rates and potential future debt crises.

He also addressed issues related to U.S. bond sales and tax reforms: “This chart makes it clear: baseline, in nine years, we are borrowing 9.2 percent of the economy.” He warned against ignoring impending tax increases as parts of the 2017 tax reform expire.

Rep. Schweikert critiqued current economic policies for not adequately addressing wage growth amid inflation: “Today we actually have a pretty darn good economy! The GDP now, I think [as of] yesterday, we’re sitting at 3.2 percent GDP.” However, he noted that without sufficient wage increases since President Biden took office, many Americans feel economically disadvantaged.

David Schweikert serves on several committees including House Ways and Means Committee and chairs various caucuses such as Blockchain Caucus and Telehealth Caucus.