Florida Gov. Ron DeSantis (R) said on Wednesday there is a “very good chance” that President Joe Biden’s administration “plunges this country into a recession.”
“When you’re leading you have to look to see what kind of trouble could come on the horizon,” DeSantis said during the press conference, touting the actions Florida has taken to prepare.
“However, you look at what’s going on out of Washington, you look at the inflation that’s absolutely out of control. They say it’s 8.5 percent,” he said, reiterating that the cost of common goods has increased far beyond that.
“If you think the things that matter up way more than that gas groceries, you look at how much utilities, all these things are going up really, really significantly,” he said. Now, you have, the Fed is going to be raising rates to try to get a handle on this. That’s going to slow down the economy.”
Ultimately, DeSantis said there is a “very good chance that the Biden administration plunges this country into a recession.”
“And so we have to be prepared for that. I think we’ve got a lot of good stuff going. Hopefully, we’ll be able to weather better than most,” he said, touting the financial shape of the Sunshine State and noting that it is being “done with very low tax rates.”
“It’s a lesson that you will actually do better from a revenue perspective if you keep taxes low and expand your economic base,” he said, explaining that high tax states are “constricting their own economic base.”
“We’re creating a virtuous cycle here in Florida, where you have good conditions, low taxes, our economy expands, and it really reinforces one another,” he added.
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