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There's only the US government were rough so wind degree.
To America's massive debt and what the nation's top money man just set about.
It's not a crisis does not need to be a crisis.
It's a crisis of congress is make.
-- Armed struggle of the little I want you to hear that again everyone but it.
It's not a crisis does not -- to be a crisis.
It's a crisis of congress is making.
Take a look at the Dow today it was a big crisis and it was a big crisis to Marco Rubio who says it is an unmitigated crisis.
Welcome everyone I'm Neil Cavuto fifty point 73 dollars and counting that is where the nation's -- the debt stands right now right now.
4000 dollars more since I said that that might not be a crisis to the -- -- -- -- the United States.
But it is -- arising senator in the United States Mitt Romney.
Already hitting hard on the issue in Florida for a second day.
And not a one of his potential running mates and weighing in on it today.
Florida Republican senator Marco Rubio addressing the issue a short time ago with me in this exclusive -- There's the -- right there at the fact that Geithner didn't think there is one I mean the president's budget whom he worked for was just voted down yesterday 99 -- nothing.
Not even the Democrats to vote for the president's budget and the senate Democrats have an -- -- budget.
In over three and a half here is coming to people back home fully understand what I'm what I just explained.
That the Democrats in Washington the control of the senate have not offered a budget in three and a half years almost four years now.
This government to spend close to ten trillion dollars -- -- -- -- the budget was last pass by them.
So for those that don't like the Ryan budget for example like the president -- their budget where's Harry Reid's budget whereas the Democrats in the Senate's budget.
Look I understand that at the end of the day in order to get a budget both sides are gonna have to give and take a little bit but how can you give and take the rescue -- -- back and forth.
-- the other side not even at the table and I think that's outrageous.
And I think for the secretary.
The treasury to say that there is no crisis when this government will again this year spend over a trillion dollars more than it takes and think that right there as the crisis.
But I think I think what the senator was referring to two in responding to words of these threats that -- characterize -- from Hamas leader John Boehner that.
When we come to this debt ceiling it could be late this summer could be later.
Technically you -- personal to even beyond that.
That if there isn't a corresponding amount.
-- spending cuts to go along with however -- -- you raise the debt ceiling.
He won't go for that -- the president is I guess is made very clear senator.
He won't go for that so we here and then another debt ceiling crisis -- -- one's gonna -- -- what we're gonna have that we are having a debt ceiling crisis on a daily -- and here's why.
Because this government every year is spending one and a half trillion dollars more than it takes stand pending with the speaker is saying is let's use the next debt limit expiration as an opportunity to begin to deal with -- thing in a serious way.
And the last one just came and went and it wasn't that -- a serious way when is the United States federal government.
And what does this president -- begin to seriously address the fact that this is a government that spends one and a half trillion dollars a year more than it takes them.
That has to be dealt -- that is not going to solve itself.
It's not gonna go away on its own and every year that goes by that it remains unresolved the harder it becomes the solved so I think that's what the -- trying to -- is where's the sense of urgency here.
I'm Bill Clinton had some thoughts on this matters to get a investment conference senators saying -- Maybe he would only answer really and realistically down the road bar across the board.
Tax increases on everyone not just.
The rich in other words when -- that -- the rate -- bush rates.
This season he's -- is a lot of wallets what it would even -- Well if you raise taxes on people who don't have jobs what's the point if you raise taxes on an economy that have been growing you're going to destroy the -- there is only one solution the solution is growth.
This economy has to grow.
The only way for us to find ourselves out of this problem that we face today is the combination of rapid explosive economic growth combined with a new sense of fiscal discipline to hold the line on spending.
And grow your economy really fast and the problem with a tax increases that former President Clinton is outlining it that they will prevent or hold back the kind of rapid economic growth that we need now if our economy -- really fast and then I'll then you're gonna have more taxpayers that means you don't need more taxes.
As you're gonna get more taxpayers more people working more people paying taxes.
More people making more money which means from a monetary perspective -- pay more in taxes and then we have fiscal discipline the use that money to pay down the debt.
That's how you solve this problem and I think that's something that both parties should be able to agree on -- unfortunately it's become part of this you know back and forth in the political cycle.
Pond I want to bring -- because there is this is related to think about it our FaceBook co-founder Eduardo.
-- as -- you know.
Wants to renounce his US citizens citizens if he's Brazilian by birth but I think he wants to.
Set up shop in Singapore.
That got Chuck Schumer and a number of others have said.
Saying god -- dead he should be punished for that that anyone who renounces their citizenship.
Should be subject to retroactive taxes shouldn't be allowed decadent country what do you make -- Well I look at it's not a fun story to listen to our -- one obviously I'm not gonna celebrate what he's done in the decision that he's made him.
I'm also but I but I think the bigger issue here and -- we were elected to deal with -- big -- is not one guy and the bigger issue here is that there are people who are increasingly finding it more cost -- to invest their money overseas and other countries because the US tax burden is becoming uncompetitive and when -- -- that the US regulations that burden they become even less competitive and -- on the bigger issue and the one we really should be focused -- is the fact that every single year the US is becoming less and less friendly place for some people to -- business -- -- and people are looking to -- their companies and their assets overseas because of that.
Think that's really the issue we should focus on more.
I'm not excusing what he's done I'm not celebrating and I'm not telling you that I'm happy about what I've read with regards to this one person -- -- decision he's made but I would -- -- -- -- Senator Schumer wants to do in other words I'm not he renounced my citizenship he's never welcomed I think.
But I haven't studied that and to decide whether we should go after one person I'm not happy about what I've -- and I think I think that's the -- now by the -- I just think it hasn't been -- I think a -- now is going to be renounce -- citizenship in order to avoid paying taxes you're not allowed back -- so maybe -- -- -- for the -- to be -- and that's fine with me but I don't think that we should be distracted from the big issue.
And the big issue the important one the one that really really matters is the fact that the combination of our taxes and our regulations as making America a harder place to do business while other places are becoming easier to do business and we're losing jobs because of that and we have to stop -- from happening.
You mentioned regulations a lot of your colleagues on the other side of the aisle senator saying in light of this.
Trade snap photos.
Maybe we need -- a little more regulations may -- what we've done on Dodd-Frank.
Posited an opera wasn't enforced and the president favors more regulations Mitt Romney does not.
Where do you stand.
Well JPMorgan lost money -- -- -- a bad decision businesses lose money all the time something -- go out of business because they make bad decisions and you know there are accountable to their shareholders at a shareholder meeting happened to be in Florida this week I guarantee you the shareholders weren't happy about the decision that they made or why it happened and I think they're accountable to their shareholders who are gonna hold the board -- the decision makers responsible for -- money that they lost.
But I'm not sure even the existing regulations the president.
Advocated -- to prevent businesses from making bad decisions and losing money amendments are -- the shareholders of JPMorgan are gonna hold them accountable because of that.
But what I don't think we can afford is the federal regulations in this country that send out the message that America's not the right place to do business open your business somewhere else.
Because it's easier and more competitive to do it there.
That's what cost us jobs and that's what's gonna prevent the kind of economic growth that we need in order to generate the revenue we need to pay down our -- I'm you landed the political arena in a way that maybe you didn't intend to ever since your elections you become a -- phenomenon and a party.
Many have you on the short list to be Mitt Romney's running mate but then we get these reports senator that summer on the aids rather impressed -- you personally.
-- -- -- -- -- To an experience.
Not -- your pitching yourself for the job.
But what do you think of that sentiment.
Well I don't know why I've said repeatedly I'm not gonna discuss the vice presidential selection process I'm not gonna discuss that and anyway I think they've got a good -- some places that I met -- have a long history of making good decisions in his personal life and his business life and his political life so I have no doubt he's gonna make a great selection and and as his running mate and I'm confident of that and imperious view it's gonna be like everybody has been -- And the argument against -- -- -- on a personal that I commend you Canada but in the -- and as well he hasn't been vetted enough.
Tom -- yeah I and and that race in Florida he seemed to have been aggressively -- But maybe they're concerned about another talent ideals.
But what do you think's gonna.
Well look I don't again I'm not gonna comment on the vice presidential profits -- and -- and do it now I -- and I got to look I'm more than happy to talk about why -- -- and you know obviously you followed my race when we -- Florida it was a pretty intense race and even in the time I've been here in the US senate I think we've gotten our share of attention not -- attention -- like -- attention on the left and I certainly feel very qualified to serve here and happy to be here feel blessed to be here hope I can make a difference here in the United States senate on behalf of the people what's happening in Florida.
Do you think Mitt Romney would need to look you know on his ticket -- he's made inroads.
-- -- ironically opposed this.
So called attack on women.
He is -- doing better in polls of women.
Not so it would -- Does he need a Latino on us.
Stick it you know I'll tell you about what I what I think this country needs and that is someone is gonna make things better than they've been the last three and a half years all these elections at the end of the day when an incumbent president is running for reelection.
The election is a very simple equation.
Are you better off today than you were four years ago when this present when this person took over and -- that's what this election is about that that's what this election -- about -- the selection should be about.
-- -- is going to be our next president because there's no way Barack Obama with a straight face.
Can come before the American people and argue that somehow he has made things better than they were when he got here.
President of the United States and so I think -- Mitt Romney to be very clear that these are these the things he would have done differently and I think.
He's beginning to make that argument in a very compelling way and when he does I think that's gonna appeal to all Americans including Americans and Hispanic descent who have felt the pinch of this economy perhaps more than any other group in America over the last few years.
Are you surprise -- Republicans on the -- you by the way.
Are uncomfortable but that they don't more forcefully side.
Needed to risk of being branded and in the presence.
Out of step or out of touch with reality.
Incidences and a man and a woman president promised a demanding got pilloried the next day when he did.
That is almost a reluctance like you're walking on quicksand.
Even delve into this.
-- don't know that's true I mean look I think -- the bottom line is that I'm not saying all Republicans but certainly I do believe that marriage is an institution where there's a union between one man and one woman and that's my personal -- I think people -- good -- to disagree with me and in many states they've made a different decision and that and.
What do you think that should be encoded in our constitution to do should be an amendment that states that.
Well I think ultimately marriage has always been regulated by states and so I think that's where remains in the words should remain and that's what most people believe could probably get what you think your point is a different issue and that is you want -- -- my opinion on marriage I'll give you my opinion on marriage or -- it's that it's a union between one man and one woman in and that's what it is in Florida for example because the voters wanted it to be that way in the state constitution but.
But we also need to understand what's happening here the president chose this issue and any chose to take on this issue the last few weeks for political reasons number one he did it for political reasons because he doesn't want to talk about the economy but I just pointed to -- a moment ago.
Are you better off today than you were four years ago he doesn't want that to be what this election is about until it's not just on gay marriage I think every wanted to.
Yeah and other -- distraught by stating that opinion so strongly.
He would lose North Carolina the latest poll so but he's down and in North Carolina.
That it might -- to Indiana gone back Republicans the latest polls seem to indicate that and Virginia I was what is it that might go back I'm not taking this is the issue.
But I am saying that it might not have been so politically calculated might have been.
Maybe to raise money may be right on that but but but I live in the political calculation is that he doesn't get any more electoral votes for.
Well first of all I think it actually admitted that it was politically calculated because they said they were gonna make this decision anyway.
-- -- wanna -- it closer to the convention so it's not a question -- -- and -- -- if it was a question -- when he admitted that he was going to announce this anyway he has wanted to be around the convention he wanted to be even more -- -- of course is all about politics and it's not just about politics it's also about distraction it's because he doesn't want to have to answer the question -- -- -- -- are you better off than you -- four years ago this president he knows how about a Barack Obama and his folks -- Smart enough to understand that have this election -- about the economy and how it's performed in the three and a -- -- -- he's been president he can't win reelection.
The American people are not gonna give them another four years to do what he's done the last four years with the economy he knows that so they're gonna want to be about anything -- the economy and this is part of that effort to distract from that.
And I think people see it for what it is I really do.
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