3B

Dear ,

We are officially back in action for the 119th Congress. Below, please find a few updates on my work last week for the residents of Arizona’s First Congressional District.

For my first House Floor speech of the 119th Congress, I shared a brief thought experiment showing just how much popular solutions to conquering our government borrowing would save in comparison with how much physical time of borrowing the suggestions actually save. For example, cutting all the 4,500 salaries of the Department of Education, which totals about $2.75 billion annually, would save only approximately nine hours of borrowing, according to math calculated by Joint Economic Committee Republican staff. I also mentioned 10-year sovereign debt is actually expected to reach a 5 percent interest rate. If we were to go to 5 percent of U.S. debt, the debt expectation goes from a $13 trillion - $14 trillion current interest rate to $22.7 trillion over the next 10 years. That's almost $9 trillion in additional interest. That's double the interest rate exposure going back to something even below historic norms.

Need Help with a Federal Agency?

One of the most important things I do as a member of Congress is help constituents manage their interactions with federal agencies. My office casework team is available to answer questions or provide advocacy with federal agencies as you work to resolve pending claims or seeking a response to your concern.

From passports and Medicare, to the VA Health Care System, there are dozens of federal agencies my office can assist you with. To learn more on how we can assist you, I encourage you to contact my District Office at (480) 946-2411 to have your case concerns assessed.

For more information, visit my website HERE, or feel free to attend one of my upcoming Mobile Office Hours listed below.

Upcoming Mobile Office Hours with My District Staff

My district casework team is here to assist residents of Arizona’s First Congressional District with applications and claims pertaining to federal benefits. Staff from my district office may be in your neighborhood to offer one-on-one casework assistance. Check dates and times below or call the district office at (480) 946-2411 for immediate assistance with the IRS, Passports, Medicare, Social Security, VA and other federal benefits. 

Remembering the Life & Legacy of President Carter

Recognizing Some Amazing Citizens of AZ-01

Last week, my team attended the ribbon cutting ceremony for Gulfstream’s newest customer support service center at the Phoenix-Mesa Gateway Airport on January 9, 2025.

Back in 2021, Gulfstream announced their construction of building out the hangar, where the team celebrated with a ceremony on November 9 of that year. To meet customer demand ahead of Mesa Service Center’s completion, Gulfstream opened a facility and began offering service in 2022, adding more hangar space in the fall of 2023. To date, Gulfstream’s investment in the facility is $111.5M and over 400 employees will be based at Phoenix-Mesa Gateway.

Gulfstream’s Mesa operations have already brought more than 250 new jobs to the region, with an additional 100 more expected this year. To help develop the workforce of the future, Gulfstream has partnered with local educational institutions to offer training including apprenticeship and internship programs.

Consumer Safety Tidbit from Our Casework Experts

The holiday season may be over, but cyber criminals may still be attempting to scam you.  Don’t be a victim and check out some of resources the FBI and FTC have available to help you better protect yourself from scams.

Be Cautious when Connected; visit https://www.fbi.gov/how-we-can-help-you/scams-and-safety/on-the-internet   or   https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-frauds-and-scams

Report to Help Fight Fraud: https://reportfraud.ftc.gov/

Health is Wealth: 2025 Recipes from The Juice Lady

Lettuce Wrap Sandwiches

Ingredients

4 Tbsp chicken, turkey, or tuna salad

2 lettuce leaves (Bib lettuce works very well for wraps.)

Instructions

Spread about 2 Tbsp of chicken, turkey, or tuna salad over the center of each lettuce leaf and roll the lettuce. Use a bit of the mayo on the leaf edges and press leaves to hold the lettuce together.

**A note from the nutritionist: "Want to cut your calories by a lot? Two slices of bread have about 160 calories, whereas 2 lettuce leaves have about 2 calories. This is a very healthy, low-calorie lunch. And the lettuce leaves offer two phytonutrients that are great for the eyes—lutein and zeaxanthin that improve visual acuity," -Cherie Calbom, MS

What I’m Reading & Why It Matters

This week, I've been reading all about the bond market. 

In an article from Bloomberg, it's speculated that the incoming president will enact policies that could heighten inflation and increase deficits. The good news is, however, that certain economic readings from the most recent employment data could result in further Federal Reserve interest-rate cuts into the second half of the year.

In another piece from Bloomberg, the publication lays out the opinion of Trump’s Treasury secretary pick, Scott Bessent, who has suggested a method of combatting short-term liabilities by selling more long-dated bonds in order to address government borrowing. This means that if Bessent is confirmed by the Senate, it's expected that more long-term bonds will be auctioned, leaving China receiving more and more criticism from central banks regarding the "tenacity of its currency."

Finally, the Chief Investment Officer for Fixed Income at T. Rowe Price, Arif Husain "highlights persistent U.S. fiscal challenges and inflationary pressures that may be exacerbated by the potential return of Trump-era policies," according to an article published by The Global Treasurer. Husain predicts a 5 percent increase in the benchmark yield within Q1 of Fiscal Year 2025. This projection compares with a 5 percent - 5.5 percent projection from ING Groep NV, and a 5 percent ceiling projection from Franklin Templeton and JPMorgan Asset Management. Husain remains under the assumption that a recession is unlikely to occur, even though his projections "could keep the Fed cautious despite market expectations for rate cuts."

Thank you for taking the time to read this update on my latest work in Washington, D.C. and Arizona’s First Congressional District! If you have any comments or concerns, I encourage you to reach out to my office.

Sincerely,

David Schweikert

Bookmark Debt Dashboard - United States Joint Economic Committee to stay updated on our growing fiscal crisis.