00:00The $40 trillion mark that we passed for the national debt, would you comment on that and how do we
00:05reverse that?
00:06Yeah, look, the $40 trillion is a big number.
00:09It is smaller when we look at the publicly traded amount because our Social Security funds and other government entities
00:17hold a substantial amount.
00:19And what we're going to do, we're going to have to grow our way out of this.
00:23And as I talked about, at G20 in Asheville, we are going to talk about the U.S. growth strategy
00:30and encourage the rest of the world to come along with us.
00:33We are also, you know, I announced that Director Russ Vogt and I have been tasked with looking at fiscal
00:41consolidation.
00:42I think the numbers are not the actual numbers now.
00:46We've had to do substantial tariff refunds due to the court ruling.
00:49But with the Section 301 tariffs, I am confident that we will be back to the same level, if not
00:59higher, of tariff income for last year.
01:01And that is most of the increase in the deficit.
01:04And remember, we did not get here in a day that we were left with a mess.
01:09The Biden administration had the highest deficit to GDP in history when we weren't at war or weren't in a
01:16recession.
01:17For 2025, we brought it down by more than a percent.
01:21Secretary Kerry, President Trump and now.
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