As President Obama begins his second term in office, Florida GOP Chairman Lenny Curry tells WOKV he’s not hearing much at all about the country’s national debt.
“That is the crisis of our time,” Curry says.
He says President Obama brought up many “progressive and liberal” issues during Monday’s inauguration speech.
“And I get that,” Curry says. “He’s the President and he won a second term.”
But now Curry wants to hear him talk about spending cuts to deal with a national debt over $16 trillion.
“Someday there’s a day of reckoning coming. And when that day of reckoning comes there’s gonna have to be bi-partisan support because it will be a moment of crisis – it will be a moment of what we saw the Greeks experience.”
Some possible catastrophes in the future could include another downgrading of the country’s credit rating, which Curry says would hinder the country’s ability to borrow more in the future.
He mentioned how interest rates are at historic lows right now.
“What happens if interest rates spike? What is that going to do to us overnight? I mean there are just so many risks.”
Curry suggests reforming Medicare and Medicaid, both of which he says aren’t sustainable in the long term.
He says in President Obama’s inauguration speech, “while he talked about Medicare and Social Security, he didn’t talk about them in a way of protecting them by making sure that we are not spending all of our money on interest and debt that we can’t sustain.”
Curry says people who have paid into Medicare for years need to know that it’s going to be there for them in the future when they need it.
“And as a country and society that cares about people, there needs to be a safety net in Medicaid to take care of vulnerable people.”
Curry says both sides will have to sit in a room together and work it out, otherwise the programs won’t exist.