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Senators introduce bill to protect seniors, military if Aug. 2 deadline breached

July 26, 2011 by  

Senators introduce bill to protect seniors, military if Aug. 2 deadline breached

Today, Congressional members held a press conference to introduce the Ensuring the Full Faith and Credit of the United States and Protecting America’s Soldiers and Seniors Act. The bill would ensure that the Treasury would pay the United States’ debts, Social Security obligations and active military first if the debt ceiling is not raised by Aug. 2.

“Although the president’s speech last night didn’t give me a great deal of cause for confidence, I nevertheless still hope that the president will drop his insistence on a huge tax increase, drop his opposition to pursuing a balanced budget so that we can reach an agreement on raising the debt limit prior to Aug. 2,” said Senator Pat Toomey (R-Pa.), who is sponsoring the legislation with 31 other Senators. “But at this late stage in the process, it’s obvious now to everybody that it is possible — increasingly possible — that we will not have raised the debt ceiling by Aug. 2.”

The Senator said that, despite the White House and Treasury’s assertions that the Administration could not or would not prioritize payments to avoid default, enough revenue exists to make such prioritizations possible — which could provide a way around the doomsday scenarios presented by a default.

“Frankly, it’s irresponsible and it’s dangerous. The administration should not be threatening to make the debt ceiling impasse more disruptive than it needs to be,” Toomey said. “What our bill would do is it would instruct the Treasury secretary in the event the debt ceiling is not raised prior to Aug. 2 to make certain obligations priority so that they will be paid in full, on time, and without delay.”

Toomey concluded by saying that passage of this bill is not “a substitute for raising the debt limit,” and “I continue to hope that this legislation never needs to be implemented, but it would be very, very irresponsible to be unprepared, or worse, to be unwilling to minimize the potential for disruption.”

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  • s c

    This does little but pander to those who want to hear that some common sense must still be left in Washington. Since 1913, the Fed has been playing games with the ‘full faith and credit’ of America. The Fed has had much to do with destroying our economy, it has raped and plundered the dollar and most people in America haven’t a clue about the Fed or why elected criminals line up to defend it.
    The title of this bill, in its own way, sounds as innocent as the Patriot Act. That legislation, if you will recall, did NOTHING good for America, and we may NEVER get rid of the damned thing. Food for thought, folks.

    • People’s Rights

      Dead on, this article can be very misleading if you don’t read it very carefully.

      Just like the Patriot Act, it sounds good but it will just cause more disaster. Payments to our veterans and Social Security are already stated clearly in the Constitution. There is no need for another bill, When Dems want a bill, you better watch out. The Republican Party’ve stopped funding the “REBELS” from receiving aid to fight in Libya.

      The author failed to mention the Democrat party is in charge, but they have not had a plan to control the debt in all her articles. Dems’re not just in charge of the White House, they also control the Senate, let’s see if they want to stop payments to our veterans.

      In this article: “Clinton Would Use 14th Amendment To Raise Debt Limit ‘Without Hesitation’ ” – He (Bill) is bluffing and using fear mongering tactics, so the GOP will think they are the problem and not following the constitution.

      http://www.personalliberty.com/news/clinton-would-use-14th-amendment-to-raise-debt-limit-%e2%80%98without-hesitation%e2%80%99/

  • Raggs

    HITLER style tatics coming from the oblama administration to scare people into submission….
    The debt celling is a diversion from the “fast and furious” debacle that oblama and holder created.
    oblama cares about NOTHING but getting re-elected… I say getting re-elected because thats all it is, we have not had a real election in decades.

  • TIME

    So the question is this; As we all recall Bill Clinton used the term “LOCK BOX,” thats where {Soical Security} funds are kept.

    In a “LOCK BOX” so they are safe, Hey Bill said so and as you all know Bill never lied nor do any politicians, ok I might be funning a bit but really wheres the “LOCK BOX?”

    So Has Barry lost the LOCK BOX? Did Barry use the money in the “LOCK BOX?”

    Or was Bill Clinton Lying about that “LOCK BOX?”

    Well lets review, Bill a well educated man didn’t quite know what SEX was, nor how to explain what SEX is. Could it be that Bill was lying about that “LOCK BOX?”

    Oh well if Bill was lying, or not How did Barry loose that Damm “LOCK BOX?”

    You just gotta love the BS that these politicians spin with the aid of their well trained lap doggies in the Media..

    Hey is Chris Matthews still getting a tingle up his leg?
    Until I saw Chris in person I always thought he was a frog in a suit, now after I saw him in person I know he is a frog in a suit. Watch that tongue it can catch flya from 100 yards away…….:-q

    • Raggs

      Did that tingle come from Bill looking for the “lock box” in the wrong place?… Or was that oblama looking for the “lock box” in the wrong place?…

  • http://deleted Claire

    I am concerned for the seniors, our veterans, our troops and their families. They are my priority is this godforsaken nightmare that all administrations/politicians created.

    • http://deleted Claire

      Dang! “in”

  • http://deleted Claire

    I have to tell this-I think I told it before but here it is again—–A couple of years ago, my husband had just gotten out of the hospital. We stopped at CVS to get his prescriptions. There was an elderly couple in front of us so we had to wait. The pharmacist came out with the elderly couples medicines, and it totaled almost $400.00. The little lady was shocked, tears came to her eyes and she looked at her husband and said–”we don’t have that kind of money and her husband replied “We will be okay. We have to have it.” I could have wept. I truly felt bad for them.
    Okay, I know people should “plan” for their old age. However, do any of you know any couples that have lived their entire lives with a cloud hanging over their head through no fault of their own? Life can be a bitch for some people and they don’t deserve it but this happens. We know two couples that are raising their grandkids and there is more of this happening. Take heart, life can deal any of us a low blow whether we deserve it or not.

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