A Quote by Marco Rubio
Puerto Rico is a government that is spending money that it doesn't have. What's coming in and what's going out don't match. That is, what they are receiving in taxes is not sufficient to cover the spending that they are taking on. And any entity that does that, whether a family, a business, a government, is going to go broke and bankrupt. They are asking to be given the right to declare bankruptcy, which I think should be an option, as a last resort, if there is no other resource.
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They [ the government of Puerto Rico] are asking to be given the right to declare bankruptcy, which I think should be an option, as a last resort, if there is no other resource. But there also need to be measures, changes within the government of Puerto Rico, in the ways that the island's funds are administered, not just to deal with this budget issue, but also to have, to attract the economic growth that is necessary for Puerto Rico to begin to grow economically. They are losing population, and they are losing economically.
Whether government finances its added spending by increasing taxes, by borrowing, or by inflating the currency, the added spending will be offset by reduced private spending. Furthermore, private spending is generally more efficient than the government spending that would replace it because people act more carefully when they spend their own money than when they spend other people's money.
Do you know that all of the money that we are spending, that the government is spending, must come from you? The government has no great pile of gold to which it can go to get what it gives you. The government has not one cent that it does not take from your pockets. Do not imagine, do not believe, do not go on the theory that you are not to pay this bill, unless the fundamentals of our government are to be overturned.
The government of Puerto Rico has every right to hold a plebiscite, to consult the people of Puerto Rico regarding their wishes. But the truth is that for a change in the status of Puerto Rico to happen, you need both Congress and Puerto Rico agreeing to it.
If taxes and government spending are both slashed, then the salutary result will be to lower the parasitic burden of government taxes and spending upon the productive activities of the private sector.
What does it mean when Republicans and Democrats alike warn us about the 'pain' involved in cutting government spending - in their spending less of our money? For the average citizen, what pain is there in his keeping more of his money to invest it the way he wants? Taxes cost people. Tax cuts do not cost government.
If you manage things properly - and, listen, I'm a business guy. I've got to prioritize spending in all my business career to prevent my business from going bankrupt. The federal government has got to start doing that eventually as well.
Conservatives and liberals are kindred spirits as far as government spending is concerned. First, let's make sure we understand what government spending is. Since government has no resources of its own, and since there's no Tooth Fairy handing Congress the funds for the programs it enacts, we are forced to recognize that government spending is no less than the confiscation of one person's property to give it to another to whom it does not belong - in effect, legalized theft.
Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work.
In reality, every time the government takes an additional dollar in taxes out of someone's pocket, it's a dollar that person will not be able to spend or invest. When government spending goes up, private spending goes down. There is no net effect. No wealth creation.
We [Federal Government] have tried spending money. We are spending more than we have ever spent before and it does not work.
It's an exciting feeling going to Puerto Rico. To go back where my dad was born, my bloodline, it means a lot to me to reach out to my fans in Puerto Rico.
I am no longer going to go along with this idea that we're going to keep spending and borrowing and taking over and raising taxes, that I'm going to do everything I can to change things.
We are not spending the Federal Government's money, we are spending the taxpayer's money, and it must be spent n a way which guarantees his money's worth and yields the fullest possible benefit to the people being helped.
What's hurting the U.S. economy is total government spending. The deficit is an indicator that the government is spending so much money that it can't even get around to stealing all of the money that it wants to spend. But the tip of the iceberg is not what hit the Titanic - it was the 90 percent of the iceberg under water.
If you look at the studies coming out of the Congressional Budget Office, the number one thing that's going to blow a hole in the deficit as we go forward 20, 30 years is government spending on healthcare.
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