Congressman David Schweikert (R-AZ-01) raised an alarm about what he believes is the oncoming fiscal demise of the U.S. in a speech from the House floor.
Schweikert explained that a simple series of calculations “point to a shrinking labor force, and lack of young people in our society, and the reality that in 8 years, the United States will have MORE deaths than births,” citing the Congressional Budget Office (CBO).
"The fact of the matter is, and @RayDalio said it himself, there's a shortage of borrowable money in the world. We've run out of global savings. Our goal is stability, not collapse." – Chairman @RepDavidhttps://t.co/2dkQCJcYIG
— Joint Economic Committee Republicans (@JECRepublicans) March 26, 2025
The congressman’s speech coincided with the release of a devastating report from the CBO, which warned that the federal government’s capacity to borrow through “extraordinary measures” will be exhausted by the end of August or September.
Speaking to the House, Schweikert laid out the dire projections of the CBO report, as well as the remarkable insufficiency of the metrics the government is using, in the face of three unassailable facts: “debt, deficits and demographics:“
“I’m going to walk you through just how dangerous the game we are playing right now, because when you look at these charts — and this is online. Go on C.B.O. from last Friday. It’s not a hard read. Why are my brothers and sisters so terrified to tell the truth to the public? You have a country that — and I’m going to show the charts, that in 7 1/2 years we have more deaths than births. You have a country that, when we get out of the extraordinary measures…remember right now we are borrowing from different funds because we are up against the debt ceiling, we may be borrowing almost $70,000 every second of every day. For those of you who turn to me and say, ‘David, I demand you balance the budget.’ I could do it tomorrow. Lets’ see…if I use the 2024 numbers for every dollar we took in tax collections, we spend $1.39.
“Tell me the 39 cents you want me to cut. And the problem with that math is that when you look at the charts, you see what’s in blue. That’s everything a member of Congress gets to vote on, defense and nondefense. The only problem is. it’s 26% of the spending. So, if you ask a member of Congress right now to balance the budget, we can do it, we can do it. Gotta get rid of all defense, all non-defense, discretionary. That’s basically the park service, the EPA, all the agencies. And then tell me what portion…because you have to pay your interest or you blow up the world economy.
“Tell me what portion of social security, medicare, medicaid, other things you want to hack away at. The reality of it is, in this fiscal year, our projection is…for every dollar we take in tax collections, we are going to spend functionally $1.36.
“Do you understand how screwed—excuse me, yeah that’s the technical economic term— how SCREWED WE ARE when we don’t tell the truth about the math?
“And it is not fixable, but it is possible to stabilize. We can stabilize this. We just have to think and do things that are hard. So often around here, the thinking part is complex and it’s hard and we have to go home and tell our constituents the truth about math.
But remember, the math will win. How many have you heard about how people are protesting and terrified there are going to be cuts? Ok, let’s actually have a moment of truth about math. This was baseline. Over the next 10 years, we are going to spend $86 trillion. Next 10 years, CBO baseline, we are going to spend $86 trillion. The reconciliation budget had $1.3 trillion in cuts, and if we get lucky, we’ll get to $2 trillion over 10 years on $86 trillion of spending.
That’s what the left over here is losing their minds over because they need something. They have lost the working middle class. They’ve lost so much, and American voters no longer trust them because the spent decades not telling them the truth about the math. And it’s not hard, except the problem is 30% of that is borrowed. 30% of that is borrowed. And people are losing their mind that we are trying to cut $2 trillion on $86 trillion of spending. That’s what this place has become. This place has become a clown show of math.
“Think about this. We are functioning and going to spend about $7 trillion this fiscal year. We’re going to take in about $5 trillion. And this is in a time when the economy is good. We’re not in a pandemic. We’re not in a war. We’re not in a recession. And understand when you take some of these charts of interest exposure into the future, one of my charts, it shows in nine budget years interest, just interest is over $2 trillion a year. Just interest. Why aren’t we running around terrified here? If you care about your retirement or someone that’s crazy like my wife and I, we are older parents. I have a 2 1/2-year-old and a 9-year-old. You do realize for my 2 1/2-year-old, when he turns like 24 or 23, 25, every tax in the United States has to have been doubled just to maintain baseline services. This is the morality of this place.
“The United States and other countries are binging on debt. The United States borrows about 40% of all the world capital that goes into sovereign loans. His argument is, your problem is, there’s not enough savings in the world. We are consuming more money. China, Europe, now Germany’s going into the debt markets as they’re raising their spending caps. What happens in a world when there’s a shortage of borrowable money? Remember, every day when we borrow, what, $6 billion a day, functionally that debt has to be sold. Most of it’s actually financed domestically. You know, it’s in this pension, it’s in this bank…And then foreigners, except the foreigners have been lowering their U.S. Debt because they’re having to finance their own governments. And you start to look at our interest payments, and there’s this concept called a term premium. When we make the bond markets nervous, we pay a higher interest rate.”
Congressman Schweikert summarized the fiscal nightmare scenario saying, “And you look at the next 10 years, it’s the point I’m trying to make. Is, ok, here’s the growth. 24% of the growth in spending over the next 10 years is interest. 31% of the growth of spending over the next 10 years is Social Security and disability. 28% of the growth of spending over the next 10 years is Medicare. Other mandatory and discretionary growth, about 13%. But a portion of that is actually you think defense and other things in that. The fact of the matter is your government is an insurance company with an army.”
The Arizona Freedom Caucus (AFC) says it intends to replace Superintendent of Public Instruction (SPI) Tom Horne in 2026.
AFC’s chairman, State Senator Jake Hoffman, claimed to a press gaggle on Monday that Horne hasn’t put sufficient work into protecting the Empowerment Scholarship Account Program (ESA Program). Hoffman accused Horne of leaving the state legislature to do all the work to protect the state’s school choice program.
Hoffman called Horne “the single greatest threat” to the ESA Program.
“Thanks to the legislature and the conservative leadership that we have, Katie Hobbs is unable to make serious, negative, adverse reforms to school choice in this state. However, Tom Horne is the single greatest threat to school choice. Tom Horne is the single greatest threat to the ESA Program. Tom Horne is the single greatest threat to nearly 100,000 students and their families that are utilizing those programs right now. And so I will certainly be looking for a Superintendent of Public Instruction candidate to challenge Tom Horne.”
Horne denied the accusations from Hoffman in a direct response to the senator.
“I brought charter schools to Arizona when I served in the legislature in the 90s,” said Horne. “I’ve fought to keep ESAs and school choice from an Attorney General and Governor who want it gone. I’m happy to debate you anytime on these issues.”
I brought charter schools to Arizona when I served in the legislature in the 90s. I've fought to keep ESAs and school choice from an Attorney General and Governor who want it gone. I'm happy to debate you anytime on these issues @JakeHoffmanAZ. https://t.co/pPYFjkV5l9
Hoffman took issue with the proposed 2024-2025 ESA Handbook last month. Hoffman and fellow Republicans submitted a letter to the Arizona State Board of Education (ASBE) urging the draft’s rejection.
🚨 ESA ALERT 🚨
The 2024-2025 ESA Handbook was just published & has MAJOR problems!
ESA Parents are NOT happy.
The State Board of Ed is set to approve the flawed handbook THIS MONDAY.
ASBE declined to approve the new handbook during its meeting last week. The board delayed a decision on the proposed handbook for its next meeting toward the end of this month. Horne was the sole board member to motion for a board vote on the proposed handbook during their last meeting.
Horne has consistently presented himself as “the main defender” of the ESA Program. Horne explained the perceived limitations on ESA Program expenditures were necessary written safeguards against abuse of the program.
Per Horne, parents have attempted to take advantage of current unwritten limitations on reimbursements, such as requesting coverage for a $5,000 Rolex watch and a $24,000 golf simulator.
“[These are] abuse of things that are not really for the educational benefit of the child. It’s obvious there has to be some limitations,” said Horne.
The SPI has also pushed back against attempts by Attorney General Kris Mayes and Governor Katie Hobbs — both staunch opponents of the ESA Program and the concept of school choice in general — to undermine and cripple the ESA Program with allegations of poor oversight and management.
Horne says he has consistently referred cases of fraud to Mayes for investigation, as well as increased staffing for auditing and investigative purposes.
“Under my leadership, the department has done a full-court press against waste and fraud. I hired both a program auditor and an investigator, which had not been done before,” said Horne in a January response to Hobbs’ State of the State. “I require that every expenditure be for a valid educational purpose and have been attacked for doing that.”
Nearly 87,800 students participate in the ESA Program as of Monday’s count.
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Arizona Governor Katie Hobbs has vetoed SB1119, a piece of bipartisan legislation aimed at prioritizing affordable and reliable utility services for Arizonans. The bill, sponsored by Senator Tim Dunn (R-LD25), sought to direct the Residential Utility Consumer Office (RUCO) to focus exclusively on minimizing utility rates rather than considering environmental policies that could contribute to higher costs.
In a press release following the veto, Senator Dunn criticized the decision, arguing that it would negatively impact consumers already struggling with rising costs. “SB 1119 would have required the Residential Utility Consumer Office to focus its efforts on fighting for the safest and most reliable utility service achievable at the lowest retail rate possible, instead of prioritizing any costly radical environmentalist agendas,” Dunn stated. He went on to say that the veto was “short-sighted” and would ultimately burden Arizona residents.
Utility costs have been a growing concern for Arizona residents, particularly in the wake of inflation and increased energy demand. The state’s energy policies have often been a point of contention, with debates centering around balancing affordability with sustainability. RUCO, an independent agency that represents residential utility customers, currently considers multiple factors when making policy recommendations.
Supporters of SB 1119 argued that the bill would have strengthened consumer protections by ensuring that RUCO prioritized affordability above all else. The veto is expected to spark further discussions among lawmakers and stakeholders on how to bring more affordable utility rates to Arizonans. As the state continues to grapple with rising utility costs, future legislative efforts may seek to address the concerns raised by both proponents and critics of SB 1119.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
Founder and former CEO of the Phoenix-based Nikola Motor Company, Trevor Milton, was granted a full-unconditional pardon by President Donald Trump on Friday as confirmed by the White House. Milton was prosecuted by the U.S. Attorney’s Office – Southern District of New York (SDNY), the same office which led the infamous pre-election prosecution of the President.
In a press release issued Friday, Milton, who was convicted of fraud and sentenced to four years in prison in December 2023, referenced a vow from Trump during his second inaugural address to “end the political weaponization of the Justice Department.”
Milton said in an Instagram post, “Today I was issued a full and unconditional pardon by Donald Trump himself. He called me personally to tell me.”
He also said in a statement, “This pardon is not just about me—it’s about every American who has been railroaded by the government, and unfortunately, that’s a lot of people.
“It is no wonder why trust and confidence in the Justice Department has eroded to nothing. I wish judges would stop believing whatever the prosecutors feed them so Americans could trust the justice system again. Until that happens, our justice system will continue to erode until there is nothing left.
“The 90+% conviction rate in New York is appalling and is a result of prosecutors getting whatever they want and putting innocent people in prison. I saw firsthand the tactics they use to achieve those guaranteed convictions. I am incredibly grateful to President Trump for his courage in standing up for what is right and for granting me this sacred pardon of innocence.”
Milton also shared the news in a video post to X calling it “the best day I’ve had in five years.”
He said in the video, in part, “It’s pretty hard for me to talk about, but probably the best day I’ve had in five years. I just got a call from the President of the United States on my phone, and he signed my full and unconditional pardon of innocence. I am free. The prosecutors can no longer hurt me. They can’t destroy my family. They can’t rip everything away from me. They can’t ruin my life. I get to be with my wife now. I get to be with my family. It is done. It’s over. I am now officially pardoned by the President of the United States 45, 47, an amazing man that cared enough to call me personally to tell me how much of an injustice this all was, done by the same offices that harassed and prosecuted him. And I’m now officially 100% pardoned.”
When questioned on the pardon by reporters at the White House, President Trump replied that the pardon of Milton was “highly recommended, highly recommended by many people,” according to Fox News. The president characterized Milton’s prosecution by the SDNY as politically motivated due to the billionaire’s high profile and early support of Trump’s campaign.
“Again I don’t know him, they say it was very unfair, and they say the thing that he did wrong was he was one of the first people that supported a gentleman named Donald Trump for president.
“He supported Trump. He liked Trump. I didn’t know him, but he liked him. It was in Utah, and they went after him. They went after his family. They went after his businesses, and he was, I believe, exonerated, and then they went after him again, and they brought him this time into Manhattan, and he had nothing to do with Manhattan, and they got him. And I said that’s unfair. There are many people like that. They support Trump, and they went after him.”
He continued, “You don’t realize, this is a vicious group of people that were in this office before us. This is a vicious group. They’re violent. What they would… what they were doing to people, and you could go story after hundreds and even thousands of stories. And they went after this man. And when I heard about it I said, ‘Nope, not gonna happen.’ They persecuted. They destroyed five years of his life. He fought for five years of his life, and he did nothing wrong, and he’s a good person. And basically, I had these fantastic recommendations about him from people that you know very well. All top of the line people. They thought it was a horrible thing. There were… there were many such cases by the way many such cases.”
As reported by Reuters, federal prosecutors alleged that Milton misled Nikola investors claiming that the firm had constructed a truck from the “ground up,” and had developed its own batteries, despite buying them and allegedly misled them about the capabilities of the company’s “Nikola One” EV Semi-truck.
A man has been arrested in the viral assault of a Tesla driver near Flagstaff.
Police named the arrested individual as 33-year-old Robert Artherton of Flagstaff. According to a statement from the Flagstaff Police Department (FPD), Artherton was arrested via a criminal citation for disorderly conduct, assault, and aggressive driving in the “road rage incident that escalated into a violent encounter.”
The FPD statement also stated that conflicting accounts existed as to what led up to the assault and how the incident played out, with witnesses reporting “erratic driving behavior” from both Artherton and the victim, a 61-year-old woman who maintained anonymity in her remarks to the media.
Video evidence showed Artherton drove his Chevrolet Cavalier in front of the Tesla along Route 66, preventing the female driver from continuing forward. Artherton then exited his vehicle in order to approach the driver’s side of the Tesla and reportedly began punching the driver repeatedly. FPD confirmed both drivers sustained minor injuries from the altercation.
“All parties involved allege that the incident was triggered by driving behaviors, honking, and disorderly hand gestures,” stated FPD. “At the time of the investigation no additional details regarding the motives behind the incident were provided.”
The woman told AZ Family she felt she was attacked for her perceived political stance or, at the very minimum, the current perceived political statement of owning a Tesla.
“I didn’t buy my car for a political statement,” said the woman. “I bought my car because it is really fun to drive. My politics have nothing to do with that. I’m ashamed of our society and what they are doing.”
The incident occurred earlier this month. FPD did not confirm whether the assault was a case of apolitical road rage or due to the fact that the woman was driving a Tesla.
Many in the public sphere connected the assault with the ongoing vitriol and violence issued by those opposed to Tesla CEO Elon Musk over his heading the Department of Government Efficiency (DOGE) under the Trump administration.
Congressman Abe Hamadeh condemned the incident and called for greater responses to the ongoing verbal and physical attacks.
“Unable to come to terms with their historic loss in November, & spurred on by the incendiary anti-Elon rhetoric of the leaders of their party, the radical left has resorted to violence,” said Hamadeh. “This needs to stop before more people are hurt.”
This 61-year-old woman was assaulted while driving Route 66 near Flagstaff, Arizona.
Her “crime?” Driving a Tesla.
Unable to come to terms with their historic loss in November, & spurred on by the incendiary anti-Elon rhetoric of the leaders of their party, the radical left has… pic.twitter.com/a6LBLa7Fkj
— Office of Congressman Abe Hamadeh (@RepAbeHamadeh) March 30, 2025
Congressman Eli Crane called the attack “shameful behavior.”
Last week, the FBI announced the creation of a dedicated task force to “crack down on violent Tesla attacks,” including fires set to Tesla vehicles and charging stations. The FBI categorized the attacks as “domestic terrorism.” The FBI is coordinating with the ATF to investigate criminal activity.
FBI Director Kash Patel promised a swift response from his agency.
“This is domestic terrorism,” said Patel. “Those responsible will be pursued, caught, and brought to justice.”
Attorney General Pam Bondi backed these characterizations earlier this month.
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Arizona State Senator JD Mesnard (R-LD13) is looking to reduce the size of government and the state income tax burden on Arizonans with dual bills: SB1318 and SCR1014. Both bills, which are moving through the House after passing the Senate in February, would require the Arizona Department of Revenue (ADOR) to reduce the individual income tax rate by 50% of the structural surplus for each Taxable Year (TY). If SB1318 passes the legisalture and is vetoed by Democrat Governor Katie Hobbs, SCR104 would put the issue on the Arizona ballot.
Both bills would require the Joint Legislative Budget Committee (JLBC) to determine the surplus for each Fiscal Year (FY), which would then be used to pro-actively reduce the income tax rate by 50% of the surplus amount, passing the tax savings onto the taxpayer more immediately than the issuance of a tax dividend.
Mesnard has a history of pursuing tax cuts. He was one of the lawmakers responsible for the historic 2021 tax reform that brought a flat income tax rate of 2.5% to individual taxpayers in Arizona. He also authored SB1783 the same year which lowered taxes on small businesses.
As reported by the AZ Capitol Times, Democrat Gov. Katie Hobbs expressed her opposition to SB1318, however should she veto it, the legislature would send SCR1014 to the Secretary of State, who would submit this proposition to the voters at the next election. Comparing the bill to the 1992 ‘TABOR’ or the Taxpayers Bill of Rights instituted by Colorado, Hobbs said, “I’m not interested in tying our hands like that. No. Not like TABOR. No. That’s not tax relief. That is tying the hands of future administrations.”
During hearings in February, Mesnard explained, “This is a proposal to essentially strike a balance. When you have a surplus, let’s split it between giving money to taxpayers and the other half allocating towards whatever you want.”
Democrat Sen. Brian Fernandez described the bill as an effort to “handcuff us so we can’t make decisions during a budget (negotiation).”
Mesnard responded, “So, ‘handcuff’; is an interesting choice of words. We can put parameters on ourselves. The voters put parameters on increasing taxes back in the 90s and also, more recently, when they’re on the ballot.”
