NE Valley Times

Congressman David Schweikert [AZ-01] addressed the House floor to discuss various proposals aimed at reducing the U.S. debt and their actual impact on interest costs. During his speech, he examined popular suggestions and illustrated how minor their effects would be on national borrowing.

For instance, Schweikert noted that eliminating the United Nations budget would cover only two-and-a-half days of annual borrowing. He mentioned that cutting funding for both Smithsonian and national parks would save less than four-and-a-half hours of borrowing each year. Similarly, he pointed out that cutting congressional salaries would account for just about twenty-six minutes of borrowing annually.

Schweikert expressed skepticism about these solutions' ability to make a significant impact: “Stop saying crazy stuff! You know, these are serious problems. Maybe we need serious people to start actually thinking about these things.” He emphasized the importance of understanding the scale of federal financial issues rather than relying on "trite little sound bites."

Addressing other potential cuts, Schweikert explained that closing unused federal office buildings could save around seven or eight hours of borrowing per year, while cutting funds to NPR, PBS, and the National Endowment for the Arts might cover slightly over four hours.

He also criticized partisan politics for hindering efforts to address fiscal challenges: “How do you fix things? How do you save Social Security? How do you save Medicare? How do you save the future when it’s not a loyal opposition anymore?” Schweikert urged viewers to focus on factual data and math as tools for creating effective solutions.

According to fact-checked figures provided by Joint Economic Committee Republican Staff, the U.S. is projected to borrow approximately $2.3 trillion this year.