Six days ago, July 13, Pennsylvania’s competent senator, Pat Toomey, explained the debt ceiling debate to Neil Cavuto of FoxNews.
“If we get to August 2 without having raised debt ceiling that will be disruptive,” he said. “That will be a partial government shutdown. But we will not default on our debt. There is enough ongoing revenue in
the form of tax revenue to prevent that. And, frankly, if we just raised
the debt limit without the structural reform, without the real spending
cuts we need, then we’re inviting a catastrophe down the road.”
He also said the Republican are more than willing to raise the debt ceiling if the President offers a path to a balanced budget, which he has been strangely and extraordinarily adverse to doing.
“I think there is overwhelming, if not unanimous, support among Republicans
to raise the debt ceiling, which is what the president has insisted he
vitally needs,” Toomey said. “So, we’d be willing to do that. I won’t speak for all of my colleague,
but I think a big majority would be willing to raise the debt limit if
we were on a path to a sustainable balanced budget. I don’t see why the
president can’t accept that.”
Hat tip to Bob Guzzardi