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Utah Governor: Washington NOT Fiscally Prudent

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    Gov. Gary Herbert of Utah weighs in on the economy and the S&P downgrade.

  • Duration 3:44
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We've talked about the news today that Fitch has reaffirmed the united states -- with a triple A credit rating -- top.

Is one of the ten states that has a triple -- credit rating as a statement governor you don't marry her.

-- right now.

Governor thanks very much for coming on with -- how much to the federal ratings whether it's message here Fitch or Moody's or anybody else how much does that matter do you -- a state governor.

Full of matters a lot it's a major stake of how well we're doing fiscally.

And the fact we're fiscally responsible thing to important thing it sends a message to the marketplace.

Anomaly on Wall Street as we borrow money for road construction Billings that we get a lower rate of interest and again I I would not that we have.

The unanimity in that all three -- -- give you talk triple -- bond rating so Cesar taxpayers' money.

And it says to the marketplace that this is a predictable.

Place for business we have a certainty in our future.

And we're not fiscally irresponsible.

And I believe there's a connection between being -- -- upon -- all of foundation of fiscal responsibility.

And economic growth.

Let me ask you about the how you see the federal government as a governor wouldn't have to rely on some federal funds coming in for.

-- for various things the last -- the same question rescue our viewers today who's getting it right there assessment of the United States S&P.

With the downgrade in place or -- she says US is AAA.

Well I would say this that has its should give us pause.

That were even talking about it -- wire we've been talking about whether we should be downgraded from triple -- did.

Double A plus the fact of the of the matter is we are not fiscally prudent in Washington DC.

We're not living within our means and that's something that I think both sides of the -- republics and Democrats recognize we need to get a handle on.

So whether it's a triple layer a double A plus.

There may be some politics involved in that.

I would say where would you rather invested in America so I think we our no different now were six months ago.

But we clearly have got to -- fiscal house in order and I think that the public expects it and we expect our politicians in Washington to follow through a fat.

Even in your state where she said mommy -- you AAA rated your fiscal house from you know on a relative basis appears to be in pretty good order.

What's your view of the economy I know you know in -- larger scope in terms of do you think there's a higher odds now if so what with the odds be that we go back as a as a country into recession.

And how might that affect state.

Well clearly what happens in Washington DC has an impact across the country and certainly Utah would be no exception of that.

We are trying in fact to -- ourselves against any kind of unwise decisions made in Washington so that we in fact can control our own destiny as a state by do I what types -- -- -- By the fact that we are in fact -- with the -- we we should -- money.

For government programs -- with ongoing revenue streams we have insider state.

We're prepared to take cuts in federal monies particularly if they'll.

Give us.

Money with no strings attached hundred Italian states can do more with less if they'll take the strings away.

We so I years back when them.

Tommy Thompson.

In Wisconsin said like give me a block grant.

On now welfare programs and will do more with less money that led to welfare reform as we've seen -- -- our country.

We can do more with less in the states we can help the federal government get their fiscal house in order.

Just give us the money without any strings -- Red tape -- governor Herbert thank you very much governor Gary herb have you -- thanks a lot for coming -- we appreciate it.

Thank you.

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