Marco Rubio on 'Face the Nation': It's the Debt, Not the Limit

Florida's Sen. Marco Rubio, participating in Bob Schieffer's debt crisis conversation on CBSs Face the Nation Sunday, called the coming week "our last chance to force Washington to tackle the central economic issue of our time."

Warned Rubio, "It's not the debt limit, it's the debt itself."

The freshman senator from Miami vowed not to vote for raising the debt limit "unless it is the last one we ever authorize and it comes with a decrease in spending of at least $4 trillion and a credible plan for the future that includes pro-growth strategies."

How to do that, he said, is not by raising taxes but with a plan for fundamental tax reform, an overhaul of our regulatory structure, a cut to discretionary spending, a balanced-budget amendment and reforms to save Social Security, Medicare and Medicaid.