“That’s the reason why a budget hasn’t passed, because we refuse to vote for, I will not vote for, a budget plan that does not show how it’s eventually going to get to balance and get our country out of the debt problem that it faces,” Rubio said.
Rubio said high national debt is causing economic uncertainty and discouraging investments and job creation.
“Right now, there are jobs that are not going to be created this year because we have run up a close to $17 trillion debt, and there’s no plan in place to fix it,” Rubio said.Rubio said people are unwilling to invest their money in businesses because the national debt “scares people from risking their money.”
“The reason why they’re afraid to do that now is because they’re looking at this debt, and they’re looking at other countries that have debt crises, and they’re saying, 'Look what happens in those countries that have a debt crisis,'” Rubio said. “You have these disruptive changes in government spending, you have these dramatic increases in taxes, and that uncertainty, and the lack of a plan to fix it is scaring people from investing and risking money they have access to.”
Republicans have said the way to improve the economy is through tax and spending reductions, while Democrats have called for federal investments in infrastructure and education.
Senate Democrats passed a budget earlier this year that replaced sequestration with an equal mix of targeted spending cuts and tax increases on the wealthy and corporations — not a single Republican voted for that budget. The House Republicans’ plan balanced the budget in 10 years through deep spending reductions.
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