WASHINGTON, D.C. (CBS) – US senator Pat Toomey (R-Pa.) says he’s still pushing for a hike in the nation’s debt limit with appropriate budget cuts, but he’s introduced a bill to prioritize spending in the event the debt ceiling is reached on August 2nd (see related story).

In a televised press conference today, Toomey said his bill would first require payments for interest on government debt, then Social Security payments and military salaries.

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He estimates that from August 3rd through 31st the government would take in more than $173 billion and these obligations total about $81 billion.

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Reported by John Ostapkovich, KYW Newsradio 1060

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