Sen. Toomey Proposes Hard-Line Debt Cap Legislation
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WASHINGTON, D.C. (CBS) – Pennsylvania’s newest US senator, offering a relatively low-key profile since taking office last month, took his case for putting the brakes on federal spending to a Washington, DC-based conservative forum today.
The remarks by Sen. Pat Toomey (R-Pa.) came during a forum at the Heritage Foundation, where he promoted legislation he calls the “Full Faith and Credit Act,” aimed at getting the federal government to reduce its spending while still making payments on its debt.
Toomey is accusing the Obama administration of trying to scare Congress into raising the nation’s debt limit without promises to trim spending.
“The idea is simply to enable us to have an honest debate about how we’re going to get spending under control,” Toomey said today, “to be able to have that debate without the false spectre of a default on our debt. Let’s take that off the table and then discuss exactly what we’re going to do to avoid the fiscal disaster that looms ahead.”
Toomey says the level of government spending is unsustainable and, if unchecked, could do serious harm to the economy in the years ahead.
Reported by Mark Abrams, KYW Newsradio 1060.