U.S. Senate Floor Speech
July 12, 2012
Senator Marco Rubio: “The only way to solve it is growth. The only way to solve this problem is to grow our economy. If our economy grows, then the debt becomes smaller as a percentage of our overall economy. Think of it almost as a pie. If the pie gets bigger, the slice gets smaller, if you keep it constant. It’s the same thing with the debt. If we can keep the debt constant and we can grow the economy, well then our debt becomes less problematic. So that’s really the solution to this problem.
“If you are unemployed, if you’re underemployed, if you are working twice as hard and making half as much, the debt is part of the problem. Because the government has taken money out of the private sector, money that used to go to you is now going to the government, now and in the future. So the debt is part of the reason the economy is not growing and why jobs are not being created. At the end of the day, we can’t tax our way out of this, and we can’t simply cut our way out of this.
“Now let me be clear, there are places to save money. I promise you the federal government wastes money. We should find that and we should eliminate it. It is never a good idea to waste money. But we can’t just cut our way and we certainly cannot tax our way out of this debt problem. We have to grow our way out of this debt problem. Grow our economy out of it, not our government out of it. The only way to grow your economy is for the private sector to grow.”
To view the full speech, visit here.