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Sen. Mike Lee, (R-Utah), on the Presidential election, entitlement reform and efforts to reduce the federal deficit.
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Hello everybody and Gerri Willis the Republican National Convention and full -- tonight.
And the national that front and center as it takes closer to striking that all important sixteen trillion dollars with more on this Republican senator Mike -- -- -- From the convention floor some really great to see you know.
I want to start -- that moment that occurred only a few minutes ago when New Jersey put Romney over the top in delegate count.
Let's take a look.
-- -- -- There wasn't that long ago the people thought Romney was too moderate.
To appeal to all parts of the Republican Party but now he is the contender for the GOP.
What's your reaction.
Well this is an historic moment this is a fantastic candidate and governor Romney and congressman Paul -- to make an outstanding team don't seek.
President Barack Obama.
This is part of a movement that is sweeping through America people -- getting behind this team.
And -- ready to make a change in the White House.
Well you know my own little -- issues that the Republican Party is really define for itself.
Is the federal debt and you of course have been front and center on that issue.
You've been outspoken saying we should spend no more than the federal government -- and -- is this a -- issue will this appeal to all Americans.
Absolutely I think you'll continue to appeal to Americans especially Americans who were younger Americans who -- understanding the fact that much of this debt was acquired.
Before some of today's voters were even born or before some of the -- enough to -- Americans understanding better -- accumulation of debt.
And our debt to GDP ratio which is out of control is killing job growth and economic development.
Americans are putting up with this anymore that's one of the reasons why Mitt Romney's candidacy is going to be so appealing.
Well I gotta tell -- you know our debt is more than a 100% of GDP right now.
We're spending something like four billion dollars every single day two million dollars and minutes.
And and those numbers.
Just shocking the parties put up a national debt clock right on the floor of the convention -- -- -- people would see these numbers we'll -- when it trickles over -- sixteen trillion.
I President Obama has increased national debt by five trillion during his tenure.
How can you actually bring this home to Americans because.
Look the -- not add add something they pay every single day and if they do they don't see it coming out -- -- checking account.
-- one of the ways that we help people understand how this affects them individually and -- what it needs them individually.
You can divide.
The national debt of about sixteen trillion dollars by about 300 million Americans you -- Come out with somewhere in the neighborhood of 50000 dollars a person.
What if you break it down according to taxpayers depending on how you -- it may end up at or above a 150000.
Dollars for taxpayers.
Anyway you slice -- Americans.
This is not sustainable it is hurting our economy is hurting job growth and we can't allow it to continue.
They'll Mitt Romney is a plan to get us out of -- Mitt Romney wants to close the budget.
Current president has failed to get a budget passed and that's one of the many reasons why -- his candidacy is going to be so successful.
-- senator we normally talk about.
Medicare tonight -- Medicare critical issue on your convention floor for Americans generally and among voters in a recent poll.
49% said the president Barack Obama is better handle is better able to handle Medicare.
And Romney coming in second there.
Do you think even make the case that we need this fundamentally reforming entitlement programs.
Absolutely because Americans are starting to.
They're very simple but important principle.
Which is -- us.
Not sustainable.
Our current spending practices -- going to destroy the very same programs that we're talking about here.
It's President Obama who was jeopardize Medicare is president Romney who can make that program sustainable.
And Americans you can get behind this they're going to support and he's going to -- I respectfully senator -- You know this is a tough argument to make.
It's an argument that we have to pare back benefits to save the program a lot of people are scared of that how do you make that case some on the on the street with regular American.
But.
Because of the fact that -- current spending rates.
We will be spending about a trillion dollars a year just -- interest our national debt by the end of this decade some economists say could be sooner.
By the time we're spending that -- each year just in interest in our national debt.
To make available for these expanding entitlement programs.
Me that's more trillion figure that's more -- than we're spending on Medicare and Medicaid combined.
Whether we're spending on Social Security in an entire year -- -- on defense an -- -- these very -- programs are placed in jeopardy.
If in fact we continue to borrow at current rates.
At a very thoughtful senator Mike Lee thanks for joining us tonight really appreciate your time and.
