mr. schweikert is recognized. mr. schweikert: i think we'll do a continuation of what we did last week. if you don't like math or economics, please turn off c-span. there's a couple things we've got to walk through. last thursday, i think i took 38 minutes here and the concept i was trying to walk through were two things. one, the demographics of the united states being the primary driver of u.s. debt. ok. it's not that complicated but it seems to really bother people. but the second thing was this concept called interest fragility. big word. what it basically means is when you have hads 36 trillion in debt, $29 trillion publicly financed, when over a year you're going to refinance almost $10 trillion, bring maybe $2.3 trillion new issuances to market, that little movements in interest rates can be a boatload of cash. what happened last friday? we got a knockout jobs report. and here's the irony people need to understand. the united states and a few other governments, china and others, are bingeing on so much debt that they have a ravenous appetite to grab people's savings and borrow it

mr. schweikert is recognized for 60 minutes as the designee of the majority leader. mr. schweikert: thank you, mr. speaker. yeah, tonight's going to be a little thick so i apologize to everyone. but we're going to actually try something a little bit broader. we're actually going to play economist. i'm going to try actually to walk through three or four themes here, and what we must do, the why we have to do it, and about the math. let's have some fun here. i know everyone around here is a genius and we spend a lot of time reading difficult things. i'm sure every member of congress got their hands on the mckenzie report that came out a few days ago that actually walked through in beautiful detail what's happening in the industrialized world with the lack of young people. ok. so let's walk through this. idiots like me have been coming behind this microphone for almost a decade talking about the morality of prosperity. i don't care if you're on the left, right, but having a society that grows and becomes prosperous and becomes more and more productive and can provide better

mr. schweikert of arizona and mr. beyer of virginia. the speaker pro tempore: for what purpose does the gentleman from georgia seek recognition? >> mr. speaker, by direction of the committee on rules i call up house resolution 53 and ask for its immediate consideration. the speaker pro tempore: the clerk will report the resolution. the clerk: house calendar number 1, house resolution 53, resolved that at any time after adoption of this resolution the speaker may, pursuant to clause 2-b of rule 18, declare the house resolved into the committee of the whole house on the state of the union for consideration of the bill h.r. 471 to expedite under the national environmental policy act of 1969 and improve forest management activities on national forest system lands, on public lands under the jurisdiction of the bureau of land management, and on tribal lands to return resilience to overgrown, fire-prone forested lands, and for other purposes. the first reading of the bill shall be dispensed with. all points of order against consideration of th

mr. schweikert, is recognized for 60 minutes as designee of the majority leader. mr. schweikert: thank you, mr. speaker pro tem. for the gentleman from pennsylvania. a bit of reference. in the old days when we were put in the chair, particularly when we were freshmen it was because we were annoying to the speaker. if anyone remembers that. to the clerk staff, i love you, priesht you, i'm sorry we're about to do a whole bunch of math and a lot of numbers really fast. but it's well read. so mr. speaker, one of the things i'm going to try to do today is basically sell two ideas. one is, and i want to be honest and careful in this. my goal is not to be sarcastic, not to be a jerk. but walk through the scale, just the scale, of the following. so i'm going to walk through just a couple of examples of solutions we get from our wonderful, brilliant constituents and sort of explain there are probably things we should do but they're tiny rounding errors. people don't understand -- i think annually we expect to borrow about $7 billion a day. i think so far this fiscal year we're