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Why Can’t Federal Government Live Within its Means?

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    Wayne Rogers & Co. Chairman Wayne Rogers on the fiscal cliff negotiations.

  • Duration 4:30
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-- big spending bureaucrats on Capitol Hill can't manage to get the ballooning national deficit under control.

But one governor is tackling this head on Republican Rick Scott -- Florida's -- back in back to back here is for the first time in nearly three decades.

We're leaving its taxpayers by two billion dollars in just two years.

And its debt earned nine point 2% this year outstripping the eight point 9% return for the Muni market as a whole so is it time for the big waves take note.

Let's ask Wayne Rogers chairman of Wayne Rogers and company great to have you here thank it's a pleasure you say that governor -- doing a fantastic job outlook on -- Doing a very good job I don't know how fantastic it -- but he's done a very good job in the sense that he's.

He's them -- reduce the deficit in Florida by two billion dollars that's amazing in itself I don't think there's another state like that.

He's got a yes he is he cut back on certain things yes he is cutting back on the on he's.

Avoided some of the bond issues.

Which were.

We have no not necessarily know what's wonderful -- back.

People always say we need -- this oh we'd need that who is making the decision that we not -- this you know.

I I find the general assumption is that more spending is better spending.

Particularly add in some of the state -- signing this country it is in LA now -- has about balance budget amendment does that help them have kids of I wasn't gonna.

And yes it does yes it -- but you know even the United States congress can't get a budget done I mean it's been three years in the senate they can't do it.

They should pass a law yes in the federal government that says they got a -- have a balanced budget.

Take a look at just some of these numbers national debt per capita Florida -- -- pretty good here -- and keep in mind.

The federal debt is 51900.

Per person okay they set the benchmark -- -- more than anybody else but in Florida the number.

Is closer to 7000 dollars get a sense of how other states are doing it.

The -- you can drive that number down.

The better off those states are going to be in for a long -- correct right isn't that what we're looking you have got to pare back those programs that are fat and bloated correct -- -- way to run these yeah.

There's another thing -- that the bid to a lot of people use the word thing Jeremy the president is done that you know.

They have to pay their fair share everybody has to do they -- who is the person to determine what its fair.

It's an arbitrary rule you said over and over again I think it's so interesting.

Why is the tipping point 250000 kids -- 260 UN at 249800.

But -- why is it 2% why not.

One and three quarters it to an episode that means essentially they just reach up out of the sky and grab a number and then they try to sell you know it's arbitrary fortunate here from that -- -- himself about his own austerity here's what he says.

Our taxes are high and -- we have enough revenue -- would go live within our means.

We've got to limit do we go to the state level we should be doing at the federal level.

And that's the payoff right I mean why can't we do this -- the what is what is why can't Washington.

Have the same kind of attitude as a Rick Scott in Florida there lots of other governors across the country doing the same thing.

Because of the rules and that in this house and the senate are different.

They don't live by the same rules that we live that you live by that that public lives but they are accepted -- they have their own.

-- plan they have their own hospital plan they had everything that they don't like an elitist group it reminds me of what time you know when when there was the divine right -- king.

That's what -- until it until you speaking of divine right of -- you heard the president this week what he wants is to get rid of the debt ceiling.

So you don't have to go to congress and ask for permission -- stroke that check you have to give the present the check book.

And just let him spend whatever money one -- not only that look at all of the the.

Things that Saddam talking about the the -- that he's done by fiat.

He's passed over 800 I think it is 900 scares me 900.

Executive orders.

They bypass the congress you bypass the courts you don't have to do anything it's that you want them here outside go.

To sunny imperial presidency -- that we had well yes and we have a bit of a central government that's out of control we have really I think this gonna sound a little strange.

In economic terms a fascist government.

Big business never heard that big government and big labor all your total interest -- label Wayne Rogers thanks for coming in -- great to have you here thank you.

-- happy holiday thing keeps me --

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