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Washington, D.C. – U.S. Senator Marco Rubio released the following statement regarding President Obama’s formal request to raise the debt ceiling:

“This request is the sixth time in his Presidency the debt ceiling could be raised. His three year spending binge has added over $4.5 trillion to our debt making our economy smaller than our debt for the first time in history.

“You cannot solve a debt crisis of this magnitude without serious and significant executive leadership, and this move by the President is another example of his failed leadership. Instead of making debt ceiling increases a routine Washington exercise, we need to make it routine to actually spend no more than we take in. I will oppose a debt ceiling increase unless such an authorization is accompanied by a real plan to tackle our debt. Ideally, such a plan would feature both pro-growth elements and spending restraints, including fundamental tax reform, regulatory reform, meaningful cuts to discretionary spending, a balanced-budget amendment, and reforms to save Social Security and Medicare.

“America deserves leaders who will stand front and center, level with the American people about our challenges, and offer real solutions to solve them. Instead of simply asking for another debt ceiling increase, I urge the President to come forward with a real plan to tackle our debt in 2012.”