In an interview ahead of a crucial debt payment due Friday, Rubio was asked if the U.S. is prepared for any fallout that may occur if Venezuela misses the payment.
"The world markets are going to react to that. Certainly, their creditors are. And look, this is where they're headed anyway," he said. "They do not have an economy, they've made terrible economic decisions."
Rubio said in the "Squawk Box" interview that the Venezuelan government is "stealing the treasure of the people of Venezuela" and that U.S. sanctions against the regime are "rightfully" accelerating Venezuela's economic downturn.
"Their moment is coming," he added.