Sen. Rubio ruminates on the economy

Sen. Marco Rubio, R-Miami, has found himself on the defensive regarding the date of his parents' exile from Cuba — which happened 15 years before he was born. But he took a brief respite from his descendent defense recently to chat with the Greater Tampa Chamber of Commerce on the region's economic outlook.

Rubio discussed the uncertainty in the regulatory and tax environment that stymies growth of medium and small businesses. But he mainly came to listen. He said he wants to hear from the individuals who want to create jobs. The frustration filling the room was palpable.

Chase Stockon, CEO of St. Petersburg-based Panther International, questioned the senator regarding military spending — an important driver of Tampa Bay's economy. Rubio cited troubles in Pakistan, Iran and the drug trade in South America as reasons to keep military spending at its current level. He warns that an additional $600 billion could be cut from the military budget on top of what President Barack Obama has proposed if congressional budget negotiations fail. “Military spending is not what's driving our debt,” he asserted.

On another economic point, Rubio addressed a concern from Cory Neal, senior vice president of the Bank of Tampa. “Our regulatory experience right now is such that it makes us not want to do business in certain areas,” Neal said.

Rubio responded by saying he had recently talked with Federal Reserve Chairman Ben Bernanke, who told him to refer any concerned bankers directly to him. Joking aside, the senator explained that there is a disconnect between what the Federal Reserve is trying to do and what regulators are doing.

The same buzzwords filled the room throughout the luncheon: jobs, small businesses, energy efficiency. But one thing the senator said was met with surprised faces from the likes of Bob Rohrlack, president and CEO of the chamber, Joe Lopano, CEO of Tampa International Airport and the other high profile guests: “Partisanship was worse for the economy than 9/11.”

Rubio told the group the drop in the consumer confidence index following the debt debate was steeper than the drop following the terrorist attack.

Of course, he also fielded the same questions regarding his parents' exile. Says Rubio: “It's ironic how non-Cuban exiles are telling Cuban exiles how much of a non-Cuban exile I am.”