Florida Governor Rick Scott appears on CNN, says he is opposed to raising debt ceiling

3:34 PM, Jul 27, 2011   |    comments
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Florida Gov. Rick Scott

(CNN) - Despite his own party's growing push to raise the federal debt ceiling, Republican Gov. Rick Scott of Florida insisted Wednesday the government should resist any increase in the debt limit.

"We can stop borrowing money at the federal level if we cut our spending at the federal level," Scott said on CNN's "American Morning." "We don't have to keep borrowing more money."

Scott repeatedly argued the government should follow the business model of a company when it comes to debt.

"What do businesses do if the revenue goes down? They have to stop borrowing money," Scott said. "Our government is no different. What's the limit? Is it $14 trillion, $16 trillion, $20 trillion? And who's going to pay for this? Our kids will pay for this."

When pressed by CNN's Christine Romans on what he would cut from federal programs, the Florida governor did not outline specifics.

"Well, you go through the most important things-just like what you do at the state level-you go through the most important things, and then you have to cut back," Scott said.

Romans reminded Scott that Federal Reserve Chairman Ben Bernanke said the country would see an immediate 40 percent cut in federal spending if there's no agreement by the August 2 debt deadline.

"The impact near-term on the economy would be disastrous," Romans said.

But Scott remained firm in his stance, saying the only solution is to cut spending and lower taxes.

"Higher taxes, more regulation, trillion dollar deficits kill our economy," Scott said. "This is about jobs, about our future. We cannot continue to borrow money."

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