Thank goodness for Senator Toomey (R-PA)! He’s just (Tues. July 26) re-introduced a bill the Ensuring the Full Faith and Credit of the United States and Protecting American's Soldiers and Seniors Act which will make sure all we seniors will get our Social Security checks in August. The presentation included a chart that shows income from August will cover interest on the debt, Social Security and Active Military payroll checks. This means the US government will NOT be in default.
Flanked by 20 conservative Republicans from the House and the Senate at a news conference Tuesday, Toomey stood center stage as their ringleader, making his case once more that even if the $14.3 trillion debt ceiling isn't immediately raised, there would be enough revenue for the U.S. to at least pay its debt obligations.
The plan won the endorsement of every Republican senator when a version of it came to a vote in the Senate in March. Toomey has now unveiled a new bill, which has 31 Senate co-sponsors, to ensure interest on the nation's debt is paid, as well as Social Security benefits and military payrolls
.
http://www.mcall.com/...
I don’t know what all this debt fuss has been about – I’ll get mine, our active duty soldiers will get theirs, and the interest will be paid on our debt according to this bill. I don’t understand why the Senate Democrats don’t jump on this band wagon, if they are serious about lowering the debt.
This bill will do much to cut our spending; for instance it will defer payments to all those military and civilian contractors at home and all over the world. This will speed up our removal from Iraq and Afghanistan. It will also give a much needed furlough to all those millions government employees not involved in making sure the checks go out.
True, Sen. Toomey doesn’t say anything about beyond August 31, 2011, but I’m sure if it works in August it should work the rest of the year. Sounds like a win-win to me. What could go wrong?