For a Conservative Congress
“…For too many years, Congress has ignored or exacerbated the looming fiscal crisis created by overspending. Last fall's elections were largely a call to finally deal with this imminent threat, and the vote on the debt ceiling is Congress's opportunity to begin making real progress. We can do so without jeopardizing the full faith and credit of our country—and we should.” - Senator Pat Toomey, R-PA
Hat tip goes to Senator Jim DeMint, who sent me an email containing his timely letter to America
Dear Fellow Conservative:
I'm writing to share an important Wall Street Journal op-ed written by newly-elected Senator Pat Toomey (R-PA), which outlines how we can freeze the debt ceiling without defaulting on our debt obligations. Senator Toomey's argument is nothing short of a game changer in the debt limit debate.
Senator Toomey correctly points out that if the debt limit is reached later this year, the government will still have plenty of money to service the national debt. He writes,
"In fact, if Congress refuses to raise the debt ceiling, the federal government will still have far more than enough money to fully service our debt. Next year, for instance, about 6.5% of all projected federal government expenditures will go to interest on our debt, and tax revenue is projected to cover about 67% of all government expenditures. With roughly 10 times more income than needed to honor our debt obligations, why would we ever default?"
Americans should reject the sky-is-falling-hysteria coming from President Obama and demand that Congress stop the debt and balance the budget. You can add your voice to this effort by signing the "Stop the Debt" pledge at http://StopTheDebtPledge.com.
Now is the time to make fundamental, long-term budget reforms that will stop the spending and save our country from fiscal ruin.
When the Senate considers the debt limit next month, Republicans must do everything they can to block an increase in the debt limit. Senator Toomey has presented the facts they need to fight back when they're accused of threatening to put the nation in default.
I want to thank each of you who helped elect Senator Toomey last year by supporting the Senate Conservatives Fund (SCF). Without your support, he wouldn't be in a place to influence this critical debate.
Respectfully,
United States Senator
Chairman, Senate Conservatives Fund
P.S. Senator Toomey's leadership on this issue is an important reminder of why we must continue to elect true conservatives to the Senate. Please help us build the resources we need to win races in 2012 by making a contribution to SCF today at http://SenateConservatives.com.
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