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The official federal deficit for fiscal year 2025 will be released in mid-October. Before that number sweeps in like a budgetary haboob, I’m inviting you to take your best shot at predicting it.
To enter, simply reply to my newsletter with your FY2025 deficit spending estimate by the end of the month.
$1 In, $1.43 Out
Last week on the House floor, I asked a simple question. For every dollar we collect in taxes next year, how much will we spend? The answer is $1.43. That figure should concern everyone. Most of the increase is not from new programs. It is from interest payments and health care costs.
We are borrowing nearly $6.5 billion every single day. In seven years, both the Social Security and Medicare trust funds will be depleted. If we keep ignoring math, we will double senior poverty.
This is not partisan. This is demographic reality. I will keep talking about this because the numbers do not care if we stay silent. The longer we wait, the harder it gets.
Bringing Oversight and Innovation to the DoD
The National Defense Authorization Act (H.R. 3838) sets annual priorities and funding for the Department of Defense. This year, I introduced two amendments to help bring oversight and innovation to the Department through artificial intelligence.
Amendment 620 directs the Department to use AI to audit its financial statements, building on my bill H.R. 7603 and long-standing efforts to achieve a clean audit. The Department was first required to begin a full audit in 2017 and is now expected to pass one by 2028. Using AI can help finally meet that goal and bring real transparency to defense spending.
Amendment 621 targets the weapon inventory system. The lack of accurate records has led to serious waste and mismanagement. A 2023 report found that 67 percent of stored weapons inventory had critical deficiencies. Another review uncovered $126 million in unused parts sitting in storage. With the defense procurement budget now over $172 billion, taxpayers deserve better.
When the Scam Starts with Trust You Lose More Than Money
My office has received calls and messages regarding various scams targeting from various social media platforms, including emails and phone calls, and recently I found about cryptocurrency investment fraud from the FBI site.
This scam often starts with someone contacting you on social media job ads or dating platforms to build trust. They might flatter you or claim to share personal hardships just to gain your confidence. And, once they have it they pitch a crypto “investment” that seems to grow fast. You may even withdraw a bit early to feel safe, but then the platform freezes and asks you to pay fake fees or taxes to unlock your funds. If you pay again you lose it all. These schemes are often called pig butchering scams.
The FBI suggests that if you suspect fraud you should stop sending money immediately and report it at ic3.gov. The FBI will not ask for money or personal data and they may contact you only if you appear to be a victim. Being cautious could prevent catastrophic loss.
For more information on how to avoid scams take time to review the FTC consumer page HERE.
What I'm Reading and Why it Matters
Generative AI — A new generative AI approach to predicting chemical reactions
MIT researchers have created a generative AI system called FlowER that can predict how chemical reactions happen while obeying the laws of physics. The system tracks every electron in a reaction to make sure none vanish or appear out of nowhere.
That level of realism has eluded other AI tools that ignore mass conservation or electron balance. This new approach should make predictions far more accurate and reliable. It could change how chemists explore everything from materials science to drug discovery.
This is a breakthrough that blends scientific rigor with AI innovation. We only get better results when both play by the rules. |