Senator Rubio plan talk about the Budget

Plain talk from US Senator Rubio (R-Florida), from the floor of the US Senate on July 30, 2011:

And here’s the way I would describe it the United States of America more or less -- these are rough numbers but they’re accurate – spends about $300 billion a month. It has $180 billion a month that comes to the federal government through taxes and other sources of revenue and that means that in order to meet its bills at the end of every month it needs to borrow $120 billion.

“Now, for much of the history of this country, there have been increases in the debt limit and the ability to borrow money. But what has happened over the last few years is that it's no longer a routine vote because the people who give us our credit rating are saying too much of the money that you spend every month is borrowed and we want you to show us how over the next ten years you are going to borrow less as a percentage of what you spend.

“And so that's why, for years, where the debt limit was routine vote, it no longer can be. It’s not something that was made up in some conservative think tank. But the reality that we cannot continue to borrow 40% to 41% of every penny that the government spends has brought us to this point.

“So you would think that seeing that, our government and our leaders here in both parties would react to that immediately and work on it.

“And I've heard lot of talk today about delaying tactics and delaying votes. I would argue to you that this issue has been delayed at least for the last two and a half years.

“In the two years before I even came here, this chamber neither proposed nor passed a budget. It is a startling figure that for the last two years this government has operated without a budget. So think about that. Two years have gone by without a budget. The first two years that the President was the president, no budgets.

Source: www.realclearpolitics.com