joining me to talk about this is republican senator pat toomey of pennsylvania. the club for growth. senator toomey, thanks for being here. good to see you again. >> good morning. thanks for having me. >> senator toomey, you've come from a background where you have strongly believed that increased taxes hurt the economy so you are not somebody who is going to -- likely going to support tax increases in a deal to increase the debt ceiling but you have said that you think the debt ceiling should be increased? >> yeah. absolutely. certainly it's not something that i enjoy, but the fact is, we've gotten to the point where we borrow so much money if we didn't raise the debt limit then the sudden cut in spending that would be required would be very disruptive. so i think it's very important that we change the course that we're on, that we make real cut ms spending and we have structural reform of which kind my preference would be a balanced budget amendment to the constitution. i would definitely be willing to, you know, have -- be flexible and negotiate what that woul

pennsylvania senator pat toomey and new hampshire senator kelly ayotte. welcome to the program. thanks for being me. >> ithanks sean. >> the bill tabled. in other words, thisth is the second time that the house of representatives as it relates to the debt ceiling has passed the bill and the bill has been tabled at least temporarily on this one. they are not even taking the bill up, correct? >> that is exactly right. more evidence, clear and really unavoidable evidence that the senate democrats are unwilling to even so much as have a debate about a measure that would put us on a path to a balanced budget. they are so passionately opposed, seriously that opposed to a balanced budget that they won't even allow us to have a debate, have the opportunity to amend it. those are the things that would have resulted if we would have been able to defeat the motion to table, it would have gone to the floor and we might have been able to make this into a really good measure. but no such opportunity with harry reid and democrats. >> i think this is part of a pattern of obstruction. we saw it

pennsylvania senator pat toomey and new hampshire senator kelly ayotte. welcome to the program. thanks for being me. >> ithanks sean. >> the bill tabled. in other words, thisth is the second time that the house of representatives as it relates to the debt ceiling has passed the bill and the bill has been tabled at least temporarily on this one. they are not even taking the bill up, correct? >> that is exactly right. more evidence, clear and really unavoidable evidence that the senate democrats are unwilling to even so much as have a debate about a measure that would put us on a path to a balanced budget. they are so passionately opposed, seriously that opposed to a balanced budget that they won't even allow us to have a debate, have the opportunity to amend it. those are the things that would have resulted if we would have been able to defeat the motion to table, it would have gone to the floor and we might have been able to make this into a really good measure. but no such opportunity with harry reid and democrats. >> i think this is part of a pattern of obstruction. we saw it

pennsylvania senator pat toomey and new hampshire senator kelly ayotte. welcome to the program. thanks for being me. >> ithanks sean. >> the bill tabled. in other words, thisth is the second time that the house of representatives as it relates to the debt ceiling has passed the bill and the bill has been tabled at least temporarily on this one. they are not even taking the bill up, correct? >> that is exactly right. more evidence, clear and really unavoidable evidence that the senate democrats are unwilling to even so much as have a debate about a measure that would put us on a path to a balanced budget. they are so passionately opposed, seriously that opposed to a balanced budget that they won't even allow us to have a debate, have the opportunity to amend it. those are the things that would have resulted if we would have been able to defeat the motion to table, it would have gone to the floor and we might have been able to make this into a really good measure. but no such opportunity with harry reid and democrats. >> i think this is part of a pattern of obstruction. we saw it

i don't know whether pat toomey, what he's suggesting can have legal authority. i know that treasury is prioritizing. on august 3rd, if they don't have the money to pay all the bills, they have to make decisions as to which bills they're paying. >> is it possible to avert a financial crisis? maybe this is a big unknown, if they decide we're going to pay for this first or is it still going to be in a default situation? >> remember, there's is a technical part of this. if you don't pay by this day, they report you to the credit bureau and your credit rating goes down. then there's the psychological part of this. the world is going to say, oh, my god, america missed a payment on s. they're all of a sudden a bad bet. we're going to invest in canada or places like that. but america sells off more debt than anyplace else does. you can't preplace it with a lot of other countries. unclear how the world will react. all we have to go on is previous experiences. we look back to 2008 and the day that congress didn't approve the bailout. you and i were both working both of th

that's why i commend steve king and louie gohmert, tom mcclintock, pat toomey. they are trying to pull the politics out and they are trying to get serious. that's why this is such a good piece of legislation. >> let me follow up on that. you're right with regard to our own leadership in the republican party. with the continuing resolution there was fear tactics used in that. you had republicans that voted for the continuing resolution because they were told if you don't our military doesn't get paid on time. you can't leave them dangling when my bill had been pending all along. it could have been brought to the floor. it could have taken care of that issue. instead they were used as leverage and that's one of the reasons i'm so grateful we are getting the help from steve and michelle to push this issue forward. we have about 190, 192 something like that on our bill. on the military pay bill. and kay bailey hutchison has 80 senators co-sponsoring her companion bill in the senate. we'll keep pushing. >> yes, sir. >> unilateral authority to raise the debt limit. >>

pennsylvania senator pat toomey has insisted that threats of a default are a democratic scare tactic with howard dean on this issue yesterday ii >> if the worst comes to worst on august 2nd, i think what is going to happen we are not going to pay social security, medicare and some of these other bills. >> we are going to pay social security. in fact they probably have a statutory obligation. there's enough revenue to pay interest on our debt, social security, medicare medicaid, defense contractors and active duty military and have a little money left over. >> the president is behind what i said. he wants a balanced budget. he believes that everybody ought to sacrifice. >> house is going to vote on i bill that gets there over 10 years and the president dismissed it out of hand last week. this administration is not interested in getting the spending problem under control and i don't know how much time we have to do that. >> sean: joining me senator toomey, a member of the senate budget committee. welcome back. >> thanks for having me. >> sean: this is important. i don't like to use str

we have senator pat toomey of pennsylvania. senator, what does your gut tell you now? >> well, i think charlie was right. first, there is no scenario in which we were ever going to default on our debt, i've been saying that since january. it was true then, it is true now. the only difference is the administration is privately admitting it is true. the other fact is that the more important challenge that we taste not whether we raise the debt limit by august 2nd, it is whether we solve the underlying fiscal problem we have. if we raise the debt limit without addressing that huge spending problem driving our deficits we will probably be downgraded. frankly, that's appalling to me that the u.s. government could be in this position. >> neil: there are those who say that is already baked into the financial cake that a downgrade is inevitable. that things have gotten so bad, so fast that the agencies might not wait until august 2nd, to do that. >> that's a real possibility. they've may it clear. they've said unless we demonstrate the ability to change the trajectory and stab

versus arlen specter they gave to pat toomey.r, i guess, some new foundations in the republican party or a return to them, but what i want people to know is if they get engaged they can change washington. we did. it was isolating for me but when i went out across the country people said keep fighting. >> senator mark rubio wrote the forward to the book. senator demint thank you very much. you know the debt ceiling debate is pretty big. you might need to stay around because we have an even bigger debate. was it safe or he was out. a great finish last night at fenway but was it the right call? we'll debate that plus business before the bell with tyler mathison. we'll be right back. [ female announcer ] now you can apply sunblock to your kids' wet skin. new neutrogena® wet skin kids. ordinary sunblock drips and whitens. neutrogena® wet skin cuts through water. forms a broad spectrum barrier for full strength sun protection. wet skin. neutrogena®. [ male announcer ] built like a volkswagen. the 2011 tiguan. [ grunts ] our girl's an a

i will have a chance to talk to pat toomey who sits on the budget committee. >>> and more on the gunmany he launched this attack. "newsnation" is just minutes away. stick around. ca's favorite. so we're celebrating the honey sweetness, crunchy oats and... hey! don't forget me!! honey nut cheerios. make it your favorite too! is best absorbed in small continuous amounts. only one calcium supplement does that in one daily dose. new citracal slow release... continuously releases calcium plus d for the efficient absorption my body needs. citracal. for the efficient absorption my body needs. woman: saving for our child's college fund was getting man: yes it was. so to save some money, we taught our 5 year old how to dunk. woman: scholarship! woman: honey go get him. anncr: there's an easier way to save. get online. go to geico.com. get a quote. 15 minutes could save you 15% or more on car insurance. >>> hi, everybody, i'm thomas robertsç in for tamron hall. "newsnation" is following the batt

joining me is the freshman republican senator pat toomey a member of the budget committee.you introduced your own version of cut, cap, and balance in march and voted down in may. speaker boehner's plan does not include a specific balanced budget amendment for the first debt limit çincrease, so when u hear of how it is going to be parsed out so to speak before the grand unveil, what is the gut reaction by you so far? >> well, the house has passed a measure to raise the debt ceiling by the full amount that the president put on it and the only limit on it is that the president join us to putting the government on a path to balanced budget. if we don't have a path to balanced budget, i'm not sure what can pass both houses. the senate demonstrated that last week har i ary reid would have a debate about it. we thought that some would not approve the approach, but have a debate on it and offer amendments and improve it and reiterate our way to the bipartisan solution, but harry reid made sure it was tabled and killed without the opportunity to debate or amend it at all. that is n

. >> dave: and senator pat tierj -- pat toomey. >> 11 people were wounded, shots fired at a low ridercted to survive. and no one has been arrested and no word on how many shooters were involved and police say the gunfire started after an argument, turned into a fight and they say it may have been gang related, mary jo and blake hadley, allegedly killed by their son and they were brought in together in twin caskets and their son, tyler is accused of killing them with a hammer and inviting friends over for a party and reportedly took ecstasy before their deaths an earlier on "fox & friends," dr. keith ablow examined the case. >> and, it tends to make people feel a pleasurable feeling, even more connected to others, more empatheticcally connected toward others. >> he was charged as an adult but because he's 17 is not eligible for the dealt penalty. perhaps he couldn't break character. british actor and newly casted spider man villain, is now in trouble for roughing up a female security guard at the comic-con, a convention in san diego and, it is withes say he shoved the guard because she

we have about 900 collections ranging from the first cut of congress through someone like pat toomey, who served until her death until 2002. >> the bulk of congressional papers are men, including senator robert taft, with 522,000 items. all the way back to josiah bark that, who served in the continental congress. bartlett, who servedt in the continental congress. but the past for their review can be a long and surprising review. >> we get collections from donors, very often they are stored in attics or basements or even barnes. >> in this room there are delivered and put out on tables or collections. if they are not born here, there midwifed year and eventually available to the reading public. >> there have been some odd revolvers andred, revival pieces of wedding cake and all kinds of things where people clear out their filing cabinets, closets. >> for example, the papers of air force general bernard, responsible for the development of the intercontinental ballistic missile, or icbm. >> he would note on airplane napkins, and then i guess he needed more paper because he used to airsic

. >> there are some lawmakers, pat toomey and others saying the calm in the markets so far indicate that there isn't a crisis in the same way that the administration says it is. what is your answer to that? >> i would simply point to the a abundance of experts, nonpolitical experts who have made clear that the prospect of the united states losing its borrowing authority and risking default is horrible to consider, cataclysmic potentially to our economy and the global economy. i've done it enough times that i won't do it again but i could read to you from letters written by president reagan saying just that. by then treasury secretary jim baker saying just that. republicans of all kind saying just that in current, in the present day. it is simply wrong and, to risk that is to make a terrible mistake and to play chicken with our economy. the fact that there remains confidence in the world that washington will at the last hour get its act together to do the right thing is a good thing because we always have and we believe we will. but it is whistling past the graveyard to suggest that this

. >> reporter: senator pat toomey doesn't believe the u.s.l default even if the debt ceiling is not reached on august 2nd. >> we cross august 2nd without raising the debt limit, it is patently ridiculous. we will not default on our debt and have more than enough ongoing tax revenue to avoid that. >> reporter: he says he will introduce legislation which would require the treasury secretary to prioritize payments, first to keep the u.s. out of default and secondly, to make sure the social security checks go through and active duty military will be paid. bill: fast and furious there, so to speak, thanks for that. jamie has more now. jamie: john boehner putting more pressure on president obama and the senate to pass a debt plan, this morning. and he actually followed up on his primetime tv speech by going on the brian thomas show on 55 krc radio, in cincinnati.passed get us past the potential default and, begin to put caps on spending and make real changes to the way we spend people's money. and, the senate last week decided to table it. and so o

we're also pushing for senator pat toomey's legislation to make sure in the unfortunate and unnecessarygust 2nd without a debt limit increase, we at least make certain people get paid including social security beneficiaries, bondholders at u.s. securities and also, um, our military personnel so that we don't want those people to be used as pawns in this process as we move forward so as to scare the american people. martha: i guess the question for you, senator, is how dug in are you, and how dug in are your colleagues on the house side on this issue of, you know, cut, cap and balance? and are you willing to go along with john boehner's plan? fred thompson, the former presidential candidate, just said moments ago crossing the wires, he said, you know what? the tea party should claim this as a victory, and they should get this deal done and get the american people out of this peril. >> well, martha, this isn't about claiming victory or not. this is about putting america back on a path toward fiscal responsibility and economic prosperity. and we can't do that. as i explain in my book, "the

i will now turn over to mike friend and colleague senator pat toomey who is one of our lead co-sponsors. >> thank senator lee and thanks really to ship on this. i appreciated very much. as i think everybody is figured out voting to raise the debt limit is not a fun boat and it is not a popular vote. but many of us acknowledge that the failure to do so would be quite disruptive and i use that word essentially. failure to raise the debt limit would not result in a -- there were no are no circumstances in which that it occur because ongoing revenue in the treasuries treasury is more than enough by a large factor to ensure that we not default on our debt. having said that it would amount to a partial government shutdown and that is something that i for one would like to avoid. that is why i'm willing to vote to raise the debt limit however my own view is that the most irresponsible thing we can do would be to raise the debt limit and continue with this egregiously excessive spending and enormous deficit that we have been running. this bill makes a substantial increase in the debt limit poss