The Corner

Washington Debt Crisis Is ‘Like Watching a Horror Movie’


After sending a “deadbeat nation” letter to the president of the United States, Marco Rubio tells a Jacksonville radio station:


You know those movies where the people in the audience are screaming, ‘Don’t go in that door!’ because you know the killer is there? Well, it is the same thing with this debt. We know how this ends. We know what happens when a country’s debt becomes too big a percentage of its economy, and that’s where we are. And no one seems to be taking that very seriously in Washington. I shouldn’t say no one, but certainly not the President and not his party. I mean, there’s absolutely no concern whatsoever for what’s happening with this debt issue in terms of the public policy they’re offering.  And at some point, it was one of the things that I campaigned on and I felt like I had to make a really strong statement on that going into this new year. …

I think the bad news is that we don’t have a majority in the Senate. … Therefore, the people that control the Senate are not really that interested in dealing with the debt issue. They’re more interested in getting reelected and they’re more interested in doing gimmick votes which is what the Senate basically did all last year. We’re out of time. This is a very serious situation and just as you’re starting to see some glimmers of hope that Americans are turning the economy around, you’ve got this thing looming over our head. …

Right now, the majority of our debt problem is being driven by what some call entitlement programs. For example, Medicare. Medicare has to be reformed. I’m a supporter of Medicare. I think it has been documented, my mom’s been sick this year and my father passed away a year ago. Medicare is a hugely important part for them. I don’t want to see any changes for Medicare for people that are currently on the system. So, for all the political demagogues out there who like to take this issue and beat people up with it, let me just say right now what I’ve always said.  If we do it and we do it right, there doesn’t have to be any changes in Medicare for people that are currently on Medicare. I’m speaking to the people of my generation. I’m 40 years old. There isn’t going to be a Medicare if we don’t begin to reform it for people like me. There’s not going to be a Medicare. So, I and my generation need to accept that our Medicare has to look different because otherwise our country and Medicare itself goes bankrupt. And that is where the majority of the debt problem comes from. It’s Medicare, Medicaid, and those government entitlement programs. …

You know, we’re getting close to $16 trillion of debt in a $15 trillion economy. That’s frightening that our debt is larger than our economy and that is where we’re headed with this debt limit increase with no serious plan. There’s only been one plan offered last year to deal with Medicare and that was Paul Ryan’s plan. And some people liked it, some people didn’t. But there was no counterplan by the President. Where is his plan to deal with Medicare which is driving our debt, which is going to bankrupt Medicare, which is going to bankrupt our country? And I think we should be outraged that nothing is being done about it.

And in an Orlando TV interview, he said:


Enough is enough. I’ve been in office for a year, just got to Washington a year ago with hopes of doing something about the debt. I honestly thought there’s no way this year could go by without significant work on it. We now have a national debt that’s larger than our economy or on the on the verge of being larger than the size of our economy. Now, think about that, we have a $15 trillion economy on the verge of having a $16 trillion debt. Both parties are to blame for that by the way.  It’s not just Democrats, but I think you’ve seen it accelerate under this President and there is no serious plan coming out of the White House to deal with it. So, at some point, someone’s got to stand up and basically say we’ve got to deal with this. And you cannot solve a problem of this magnitude, of this seriousness, without Presidential leadership. …

Just last week we’re starting to see glimmers of hope that some jobs are being created, but there is a long way to go. But hopefully we’re starting to make some progress in this economy. You want to put a stop to that? Nothing will put a stop to that faster than a European-style debt crisis, which is what we’re about to face in this country if we do not begin to – on a bipartisan level – tackle and address this issue seriously.


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