GOP Rep. Schweikert: ‘We’re Borrowing 93,000 Dollars Every Second Over the Last 12 Months, We Are in Real Trouble’

EXCERPT:

SCHWEIKERT: "We're borrowing now $93,000 every second over the last 12 months. We're in real trouble. We're pushing up bond prices. Look at the 10-year yield right now. A lot of that, those pricing, is because the United States government is on a borrowing binge. And how do we convince the bond markets that we're serious? Well, you're going to burn one of the, in many ways, last reconciliation budgets. We have to do parts of the SAVE Act. We absolutely need that. But we also need to convince the markets that we're actually going to start to at least make a small attempt to get our fiscal house in order."