Florida Rep. Randy Fine says the only way to save US is to get spending under control

Florida GOP Rep. Randy Fine said Wednesday that in order to save the U.S., the country has to get its spending under control or else future generations will be stuck paying off the debt.

"Every great empire in history has risen and fallen, and you cannot spend money the way the United States is forever," Fine said on the "Just the News, No Noise" TV show.

Fine explained that the reason interest rates in the U.S. are so high is that the U.S. has to keep borrowing money to fund the government and pay interest on the accumulated debt. 

"If we want to make homeownership more affordable, if we want to make cars more affordable, if we want to make credit cards more affordable, we want to make education more affordable, the government has to stop crowding out the private debt market, and the only way we do that is to get spending under control," he said. 

As of Wednesday, the national debt stands at $36.217 trillion, according to the Peter G. Peterson Foundation.

"I think my colleagues need to worry about what the voters say, but they need to worry about what their children will say, because 20 or 30 or 40 years from now, if America's collapsed under the weight of debt, our kids will not judge us favorably," Fine said.