Wis. Sen. Ron Johnson says debt is key to economic growth

Johnson spoke during hearing in DC for new budget director.

Debt is not just the key to the American economy, it is also the focal point to economic growth.

That’s the view from Wisconsin Republican Senator Ron Johnson, during a hearing for a new budget director this week in Washington.

“No matter what problem we’re dealing with, no matter what challenges this nation faces, from my standpoint, the No. 1 component solution is economic growth,” Johnson said. “We’re not even coming close to realizing the full potential of the American economy.”

Besides a $20 trillion national debt, Johnson blames the sluggish American growth on under-utilization of energy resources, over regulation and a non-competitive tax system. 

Easing what he claims are burdensome regulations would all contribute to more than the current national economic growth rate of a couple percentage points per year.