“Debt will run this country, not us": Lawmaker sounds the alarm on the nation’s debt

An Arizona lawmaker has a strong warning about our nation’s debt and the ability to pay.

Representative David Schweikert says things are escalating and he warns it is getting serious.

“How does this committee produce policy that says we’re not going to raise taxes on working people? We need our small businesses to be hitting a new productivity curve because that’s how we survive. But at the same time, how do we thread the needle and communicate to the world debt markets that we’re serious? Please don’t keep raising our interest rates because at this moment, if where the interest rates are going, just that increase of going to a five handle is double the cost of extending all these tax provisions. Understand if we don’t get this right, the debt and bond markets are going to run this country not us.”

Schweikert says the nation’s debt is up almost a full point since December. Farm CPA’s also spoke this week before the powerful House Ways and Means Committee. They have urged lawmakers to not let the Trump tax cuts expire. House Speaker Mike Johnson also said recently that they are a top priority for his office.

Related Stories
Dave Duquette, founder of Western Justice, joined us to discuss wolf management, rancher concerns, efforts to return control to the states, and his upcoming documentary, “Wolves: True Conflict.”
EPA Administrator Lee Zeldin, in consultation with the U.S. Department of Energy and under the Clean Air Act, approved the temporary measure to help stabilize fuel supplies and reduce costs for consumers.
As farmers and ranchers navigate rising input costs, lawmakers are considering a roughly $15 billion aid package to help, which would be tied to the spending bill for the war with Iran.
After devastating wildfires swept through Nebraska, Sen. Deb Fischer is championing a bill to expedite the relief process for farmers and ranchers. She joins us with updates on recovery efforts, conditions on the ground, and how the ag community has stepped up to help.
Policy clarity will determine the trajectory of soybean crush demand, but producers in Kansas have shown that expanding local crush capacity strengthens basis and marketing options.
EPA Administrator Scott Mason shares updates on farm equipment regulations, regional accomplishments, and federal efforts supporting agriculture in honor of National Ag Day.

LATEST STORIES BY THIS AUTHOR:

ASFMRA’s Tony Toso joins us with an update on California farmland values, ongoing market uncertainty, and key discussions shaping agriculture in the Golden State.
Dr. Gold encouraged farmers and ranchers to prioritize eye safety in their daily routines, offering his expertise to help reduce risks on this week’s Rural Health Matters.
AFBF Women’s Leadership Committee Chair Isabella Chism joined us to discuss Ag Day planning, community involvement, and supporting the future of agriculture.
Sen. Roger Marshall joins us in honor of National Ag Day to share legislative updates, highlight key policy victories, and initiatives supporting farmers and rural communities he is championing in Washington.
Carol Anderson joined us to highlight the importance of rural mental health, introduce a new resilience program, and share resources available to the ag community.
During opening remarks, Rollins emphasized the strength and perseverance of the agricultural community, while teasing that a new policy announcement is expected later this week.