American Morning

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July 27th, 2011
12:01 PM ET

Senator Pat Toomey: 'We ought to have a plan B'

Pennsylvania Senator Pat Toomey unveiled legislation yesterday that would require the government to promise to pay its interest on its debt, send out Social Security checks and pay active duty military if Congress cannot reach a deal on raising the debt-ceiling by August 2nd.

The bill, called Ensuring the Full Faith and Credit of the U.S., has 31 cosponsors in the Senate and comes at a time when lawmakers are becoming increasingly concerned that a deal will not be reached by next week's deadline.

Today on American Morning, Senator Toomey tells Ali Velshi how he would prioritize spending, offering his take on Speaker Boehner's plan to increase the federal debt-ceiling.

Filed under: Budget • Debt • Debt ceiling • Deficit
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