Rep. Paul Ryan (R-WI), the 2012 Republican vice presidential nominee and a rumored 2016 candidate, explained his vote against a deal averting default and reopening government Wednesday night by citing Congress’ failiure to address the country’s most concerning problem: spending and debt.

“To pay our bills today—and to make sure we can pay our bills tomorrow—we must make a down payment on the debt,” Ryan said in a statement. “Today’s legislation won’t help us reduce our fast-growing debt. In fact, it could extend the debt ceiling well into next year, further delaying any action. In my judgment, this isn’t a breakthrough. We’re just kicking the can down the road.”

The ranking member on the House Budget Committee also said he was looking forward to working with Democrats as the two parties conference on the budget.

“I look forward to convening the first conference on a budget resolution since 2009,” he added. “And though a budget resolution by itself can’t resolve our spending problem, I’m committed to making a bipartisan budget conference a success.”

Ryan joined two other prospective 2016 Republican presidential candidates, Sens. Marco Rubio (R-FL) and Rand Paul (R-KY), who voted against the deal in the Senate.