Rubio: “[T]his debt limit debate that we are going to have is an excellent and appropriate opportunity not just to raise the debt limit summarily but also to confront this debt problem once and for all so that our economy can get growing again, so that our middle class can get strengthened again and so that America can be better off.”
Washington, D.C. - In this week‘s installment of Marco’s Constituent Mailbox video series, U.S. Senator Marco Rubio responds to two constituents regarding the upcoming debate on the debt limit. Both Thomas, from West Palm Beach, and Lawrence, from Port St. Lucie, strongly support raising the debt limit. Yesterday, Treasury Secretary Jack Lew announced the debt limit will be reached in mid-October. Rubio’s response to Thomas and Lawrence defines the debt crisis and highlights the need for a long term solution to our debt problem. Watch here.
“I understand we have to raise the debt limit one more time, but let’s not raise the debt limit until we have a plan in place that begins to bring our budgets into balance over the next decade,” said Rubio. “What I do think is unreasonable is that we continue to borrow and spend money without any regard for the future.
“[I]f we don’t get this under control, the day of reckoning will be upon us,” Rubio continued. “If you continue to spend more money than you take in, you are going to have a debt problem or a debt crisis and that’s already having an impact today.
“People that have access to money - borrowed money, saved money, or whatever - they’re afraid to risk that money because they look at Europe or they look at other countries that have debt problems,” Rubio added. “They look at Detroit and what do they see? They see that every time a government confronts a debt crisis it has to do two things. It has to make draconian reductions in spending, which is very disruptive, and it has to raise taxes dramatically. And neither one of these two things encourage people about the future, so people are afraid to invest in the future until they know what the future is going to look like. And they’re not going to know what the future looks like until America deals with its debt problem. So this debt limit debate that we are going to have is an excellent and appropriate opportunity not just to raise the debt limit summarily but also to confront this debt problem once and for all so that our economy can get growing again, so that our middle class can get strengthened again and so that America can be better off.”