WASHINGTON—Congressman Byron Donalds recently stated he would introduce "stress testing" similar to large banks to cut wasteful state spending throughout Florida's state govenment if elected as the next governor of Florida.
"When we came out of the financial collapse, Washington instituted stress testing for the large banks. I think we have to go through a process of beginning a stress test in states budget," Rep. Donalds told The Floridian.
In finance, a stress test is an analysis or simulation designed to evaluate the ability of a financial institution to deal with an economic crisis. Byron Donalds, it appears, would like to implement that idea back from Washington to Tallahassee if chosen to replace Gov. Ron DeSantis.
"What happens if the federal government has to pull back on the money it sends to Florida? What if they pull back five percent, 10 percent, 15 percent? What would we need to make adjustments to so that Florida is prepared to stand on its own two feet if that's what occurs," Donalds continued.
To avoid that wake-up call, Gov.Ron DeSantis and Florida's Legislature have already installed plans to reduce and cut wasteful state spending. While Washington continues spending like drunken sailors literally by the second, Donalds hoped the Sunshine State would take the lead on fiscal leadership.
Although similar to Washington, Donalds admitted Florida's budget has grown over the past several years.
"We're massively in debt up here in Washington and the terrible truth is too many people in this town have not been serious about federal spending and debt for far too long. As the realities of economics come to play, can Florida stand on its own two feet?" Donalds said.
However, Donalds expressed optimism that DeSantis and House Speaker Daniel Perez were steering the state in the right direction.
"What the governor and Speaker Perez want to do about "Dogeing" Florida that's great. I'm all for it. I'm looking forward to see what they come up with. If I'm fortunate to be the next Florida governor, I'll take some of that stuff and then do some of this stress testing, figure out ways to make Florida government is lean and efficient while still providing the services to the people of Florida," Donalds said.
