Pat Toomey
The Public Record
Patrick Toomey is a former United States Senator from Pennsylvania, serving from 2011 to 2022. A member of the Republican Party, Toomey was known for his focus on fiscal conservatism, economic growth, and limited government. During his tenure, he served on several Senate committees, including the Banking, Housing, and Urban Affairs Committee, where he was involved in financial regulation and economic policy discussions.
As concerned as I am about the huge problems with the website, I am more concerned with some of the underlying, fundamental design problems with this legislation that are starting to manifest themselves.
The program as it is designed, the bill as it is designed, does not honor these promises.
I would argue now it is much more urgent that we deal with the underlying fiscal problem.
If we do not raise the debt ceiling sometime soon, then at some point we are going to have disruptive consequences.
But the greatest disruption, by far, would occur if you were to choose to not pay interest on our debt.
The importance of the U.S. Treasury securities simply cannot be overstated as an investment vehicle.
There is absolutely no circumstances under which we should ever tolerate choosing willfully to make sure that a missed payment would include a missed payment on a Treasury security.
If the President refuses to agree to include even a modest reform that begins to take us in the direction of a more sustainable path in the context of a debt ceiling increase, there appears to be a real chance that this Congress will not…





