http://moneywatch.bnet.com/economic-news/news/gop-senator-debt-ceiling-deal-may-...
WASHINGTON — A Republican senator says there's a real possibility that Congress will fail to agree on how to raise the federal debt ceiling before the nation's borrowing powers expire next week.
Pat Toomey of Pennsylvania says "it's increasingly possible we will not have raised the debt ceiling by Aug. 2."
Toomey is pushing a bill to require the government to first pay interest on its debts, Social Security benefits and military payrolls if that happens. Toomey and other conservatives say there is no need for the nation to default on its debts if the deadline is missed.
Senate Democrats seem unlikely to pass his bill.
Read more: http://moneywatch.bnet.com/economic-news/news/gop-senator-debt-ceiling-deal-may-...
****************Holy S**t*********************
GOP Sen. Pat Toomey(Penn) just on TV with a plan to pay piece meal bills, If the debt limit is not resolved by Tues.
This may sound reasonable but the message is we’re getting ready to go into default if we don’t get our way. THINK about this a plan to FAIL!
Why is it that this congress is willing to default on debt? Something that hasn’t before I hear everyone talking about WE need to put aside politics ( in an ideal world yes) and find a way to resolve this now but that’s just what the POTUS did less than a week ago. Why did they change (GOP) their minds once the DEMS made concessions? Until yesterday, I wasn’t too worried thinking ” America is not going to default and risk the catastrophe that would follow if we get a credit downgrade.” now I’m not so confident. The GOP has some real radicals in its ranks—they care more about making the POTUS look bad than about you having food on your table.
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jackhole - 66 comments
Source: http://current.com/community/93360474_gop-senator-pat-toomy-prepares-to-fail.htm?xid=RSSfeed
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