Toomey on the Debt Limit

9:14 a.m. E.T.

The Pennsylvania Senator on “Morning Joe” expresses his determination to put the chip on the table:

MARK HALPERIN: Senator, I want to pursue this debt ceiling issue with you. You said it could cause a government shut down but it also could cause a downgrade of U.S. credit, it could cause market chaos. Are you willing to do all of those things in order to use that leverage if the President says that’s not part of the debate?

PAT TOOMEY: Let me tell you what: I am absolutely convinced that the downgrade and the chaos comes when the market sees an unwillingness to solve the fundamental unsustainable fiscal situation that we’re in. That’s the problem. A temporary disruption because we have to furlough the workers at the Department of Education, or close down some national parks, or not cut the grass on the Mall, that’s not optimal. It’s disruptive but it’s a hell of a lot better than the path that we’re on and the crisis we’re going to have if we think we can just keep giving this President unlimited debt. Look, he got a $2 trillion debt limit increase just 17 months ago, blew through all that. And there’s another thing, which I want to correct, which is this notion, somehow, that giving the President additional debt limit increase is about past spending, it’s not. It’s to enable him to engage in the future spending that he wants and that’s what we’ve got to curtail. We absolutely have to have this fight over the debt limit.

Watch the video above.

Related Topics: Barack Obama, Debt limit, debt-ceiling, Fiscal Cliff, Mark Halperin, Morning Joe, MSNBC, Pat Toomey, Analysis, Budget, Congress, House, News, Republican Party, Senate, The Page, Video

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