Francis Suarez Unveils Plan To Secure America’s Financial Future

Miami Mayor Francis Suarez, who recently announced his candidacy for the 2024 presidential election, has revealed his plan to address the recent debt ceiling crisis. 

In an interview with the Daily Caller, Suarez revealed that the issue of debt ceiling would be his first action as president as he expressed his intention to propose a constitutional amendment that would balance the budget, ensuring a more sustainable financial future for the country.

The urgency of his proposal stems from the near-default situation that the United States found itself in just a few days ago, following intense negotiations between Republican Speaker Kevin McCarthy (R-CA) and President Joe Biden.

Speaking to the Daily Caller, Suarez, the 43rd mayor of Miami emphasized the need for responsible financial management. He argued that the government’s current approach to spending has resulted in an unsustainable burden of debt, which will be passed onto future generations.

The mayor pointed out that during his tenure, he successfully turned Miami’s financial situation around, leading to historical surpluses, high bond ratings, and increased revenue without raising taxes.

“I got the city broke. We now have the most surplus in our history, the highest bond rating in the history and we have annual surpluses, but with the lowest tax rate. So it’s not like we’ve increased taxes to grow revenue, we’ve grown revenue organically by creating the right ecosystem, which is how we can do it and how we should do it in our country,” he stated.

Suarez highlighted the importance of avoiding excessive borrowing and acquiring more debt, except in extraordinary circumstances such as natural disasters, war, or pandemics. By adopting a balanced budget, he believes the government can prevent the accumulation of mounting receipts and alleviate the strain on future generations.

The mayor also raised concerns about the vulnerability created by allowing other countries to use the United States’ debt to their strategic advantage. “We cannot continue to play with other people’s money or use it, allow other countries to use it to their strategic advantage, and create more vulnerability for ourselves and the world,” he stated, stressing the need for financial independence and stability.

Proposals to amend the Constitution and enforce a balanced budget have gained traction among politicians and lawmakers. In January, Rep. Jay Obernolte (R-CA) introduced an amendment requiring the federal government to balance its budget. Shortly after, Sen. Mike Lee (R-UT) and Sen. Chuck Grassley (R-IA) presented a similar measure.

Suarez’s interview comes after he announced his 2024 presidential bid on Thursday evening, joining the ranks of other prominent Florida Republicans vying for the presidential nomination, including Governor Ron DeSantis and former President Donald Trump.

During his speech, he revealed his plans to be a leader who can connect with a broad spectrum of voters, including young voters, urban voters, Hispanics, and suburban women. The mayor believes that by engaging with these groups and listening to their concerns, Republicans can broaden their appeal and bridge historical gaps in support.