“We have an Administration that is saying, we want you to vote on the debt ceiling and continue business as usual. No reforms, no cuts in spending,” explains Senator Pat Toomey (R-PA). With pragmatic perspective and common-sense suggestions, Toomey debunked the debt limit hysteria in a speech at The Heritage Foundation this morning. After his speech, he joined us for an In The Green Room interview to discuss the misconceptions that surround the issue and a few solutions that might actually weed out the root problem of irresponsible spending.
Toomey has been a leader in recent months in the debt ceiling debate, writing in a recent Wall Street Journal op-ed, “The vote on whether to raise the debt ceiling—and, if so, by how much—is our best opportunity to insist that any increase in our nation’s debt be coupled with concrete steps toward fiscal sanity.” As Toomey said in the interview, “What I’m trying to correct is the misperception—being propagated by some in the Administration—that if we don’t immediately raise the debt ceiling on reaching it, that constitutes a default on our debt.”