Rick Scott Points to Florida's Savings by Reducing Debt

In a statement on Wednesday and at the state Cabinet meeting on Tuesday, Gov. Rick Scott showcased Floridas reduced debt. On Tuesday, Scott announced $3.5 billion in debt had been paid down by the state and pointed to glowing assessments of Floridas economy from Moodys.

Two years ago unemployment and state-debt were up, while housing prices were down, Scott said on Wednesday in a statement. To grow jobs, we cut taxes, cut burdensome regulations, made strategic investments and made state government more accountable to taxpayers. The results are in and its working. Moodys has given credit to our management of taxpayer dollars, and weve paid down $3.5 billion in state debt, which wont burden our future generations.

Scott pointed to reports which found costs related to servicing the debt saved Florida almost $7 billion even as the total debt went down by $3.5 billion.