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ICYMI: Sen. Rubio: “Debt Limit Debate Is The Perfect Opportunity” To Make Serious Fiscal Reforms

Apr 26, 2011 | Blog

Senator Rubio: “Here’s the way I view it: this is not a simple thing. This problem America faces with its debt doesn’t have one simple solution to it. What’s the one law, the one bill, the one proposal that solves it? There is not one solution for it.

“I think it’s got to be a host of things, primarily economic growth-related. That’s how you’re going to get out of it and grow your economy. This debt is hurting economic growth. So, we need things like tax reform. Simplify the tax code, make it easy to comply with. A tax code that’s fair and, at the same time, encourages people to invest in America and its future. We need regulatory reform. These regulatory agencies and the burdens that have been placed on job creators are very real, and we hear it every day. I’m sure we’ll hear it today. On top of that, a balanced budget amendment is important because it ensures that government cannot continue to spend money it doesn’t have. And a spending cap to limit the amount, you know, what raise is government going to get every year? You know, most people don’t get a raise every year, but government gets a raise every year, sometimes as much as six, seven, eight percent for some of these programs. So my question, our question, is well, shouldn’t there be some limit as to how much government should get a raise from year to year and its spending programs?

“So, it’s got to be a combination of factors that are taken into account, and my argument is, this debt limit debate is the perfect opportunity to talk about these issues. Don’t just go in there and do what they’ve always done and raise the debt limit, and wait for a future day to deal with these issues. We’re running out of time to deal with these issues.”