senator pat toomey, republican of pennsylvania. >>> all right. has to do it, the judge in the casey anthony trial is refusing to release the names of jurors in the case. many of those jurors have received threats since finding casey anthony not guilty. the chief judge belvin perry says he's going to wait for a cooling off period to expire before he turns over the names to the media. he says that will not happen until october 25th or beyond. >>> police in california trying to figure out how this happened. a man stuck upside down in a sewer over the weekend. police say it was a drunken accident, but now the guy claims gang members beat him up and threw his cell phone in the storm drain. he's angry for the cops for releasing this picture. police say he never mentioned an attack when he was rescued. >>> still to come, gold glimmers as concerns mount over the debt ceiling. how much is your gold worth? you're going to love this. we're going to hit the streets to find out. s. only one calcium supplement does that in one daily dose. new citracal slow rel

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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

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

i will turn over to my colleague senator toomey. >> thanks for your leadership on this. i appreciate that very much. i think everybody has figured out voting to raise the debt ceiling is not a popular votes. many of us acknowledge the failure to do so would be quite destructive. i use that word intentionally. failure to raise the debt limit by august 2 would not cause us to default on our debt because it the treasury has enough to ensure we don't default on our debt. it would amount to a partial government shutdown. that is something i would like. to like that's why i'm willing to raise the debt limit. -- a government shutdown is something i would like to avoid. this bill makes substantial increase in the debt limit possible, but contingent on the kinds of disciplines i think we badly need. the elements of the bill, the spending cap levels and the balanced budget amendment have separately enjoyed very broad support among republicans in the senate. we had all but three republicans in the senate vote for my budget on the senate floor and the cap levels are taken directly f

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

senator toomey can't call the committee into session and have a vote. they decided not to meet, not to do their duty. and they're going to meet in secret somewhere and have their little discussions about what they want to do. and the people who are elected to be accountable to the american people for what we do with their money are just standing around wondering what's happening. forgive me if i'm not happy. i don't think it's right. i think it's weakening the united states senate. i believe our constitutional responsibility is not being fulfilled if we end up with some big-deal big on august 1, and we're told it's got to be passed by august 2, and you can find out what's in it after we pass it. i'm not there. count me out. senator toomey, we had more people wanting to get on the budget committee this year. they were so excited. it was the most wanted committee to be on in the entire senate, and we've not done anything. you were selected to be on the committee, which is a tribute to your experience. i guess i would ask you, how do you feel about where w

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 is why i join with senator toomey in this legislation. now go to the other senator that is here, senator mike leigh. >> we all know that it is wise to plan for the past but prepare for the worse. that's what this bill does. and i commend senator toomey and represent your and others have brought this forward. because this is something that allows us to avoid having america's senior citizens be used as pawns in this game to try to avoid what some people are improperly referring to as a default. i want to echo again, the one plan that has been put forward to raise the debt limit to address this problem was put forward essentially this same group year, and it was passed in the house of representatives with the support of five democrats in the house. when he came over to the senate it was denied an opportunity for a vote. not just an up or down vote that any opportunity for meaningful debate and discussion, or a full-blown amendment process. we think this is unfortunate. we think it's also no coincidence this happen as result of the fact that

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. >>

. >> the man who gained fame after being fired as macy's santa claus has died. 69-year-old john toomey was found yesterday in his hotel room at the residential hotel where he lived. police say the death is not suspicious. he was fired from his long time santa job after an adult who sat on his lap complained when he told a naughty joke. almost immediately after his firing he was hired by nearby lucky oh o'doul's party restaurant. >> he worked from 5:00 a.m. and it was delivered to the kids. it's a great loss and we're very sad. >> lucky o'doul's had planned to bring him back next christmas but there is a large voitd void to fill. >> governor brown signed a bill moving the state's primary from february back to june next year. california had tried to increase it's political clout in 2008 by moving the primary to super tuesday but consolidating the statewide primaries is expected to save taxpayers about $100 million. >> up next, ten years after the 9/11 attacks, former president bush reveals exactly what he was thinking in the moments after he learned america was under attack. also. also a

>> first of all i voted for that budget as well as the toomey budget.or that the toomey budget whichwas mymy first choice preference balancee the budget in 10 years. that would in my first choice. thye ryan budgets gets us way down the path compared to anything else proposed on the democratic side like the sid president's budget which on the senate floorch actually got zero votes out of 100 so while the ryan budget is not a first choice, it is a dramatic improvement on the path we are currently on. >> i would note to my colleague reclaiming my time that the ryan budget is not a dramatic step in that direction. the ryan budget as i understand it does not do a thing in the first decade to reduce the deficit. of it cuts a lot of spending budget also cuts taxes and it raises the deficit.ndin >> if i may respond to the chair? that is not true.sn't it reduces the deficit. doesn't balance the budgetb-ye within a 10 year window which is my strong preference. the toomey budget does do that but it gets us going in the right direction and reduces the deficit and it is a particularly dramatic im

ridge in nebraska in port robinson and i was always taught that when you hear these tribal names, toomey i grew up thinking that is a form of respect. i wanted to know. and thank you. i am nervous so i will get off here. >> guest: you don't need to be nervous. i should be nervous. >> host: any comment about her mask comment? >> guest: everyone has a different way of looking at whether reform of respect. most of us don't think it is a form of respect. tomahawk chop and, you know? is. >> host: next call for author linda hogan comes from ackworth, georgia. hi, vicki. vicki, you with us? >> caller: hi. >> host: please, go ahead. >> caller: thank you so much. i am so thankful to be able t >> caller: thank you. it is good to speak with you. i was born -- i was born--i am sorry. my brain isn't working. anyway. i was born in oak city, oklahoma. and my family -- my dad was born in arkansas. he is indian. his last name was tosh. we have never been able to get any information about him. but yet we cannot find any information on that at all. i was hoping that maybe you could help me find information

and senator toomey joins me now. you clearly believe we are headed for a default. >> there is no situation on which we'll defall on our debt. the treasury won't admit that publicly but they are making private phone calls to big investors acknowledging, they'll make sure they don't default. it is not something i am hoping for. i have said from the beginning, i hope we can find a solution that will allow to us trays debt limit and aroid the disruption that will occur. but nobody can guarantee that. that's why i think the only responsible thing to do is to have a plan b. one in which we would priority ties most vital payments. make sure they are made in full on time. the service of our debt so we don't have a catastrophic default. social security payments to seniors so they can know they'll get the payments they've earned through their own contributions and payment to active duty military. the men and women who are risking their lives for us deserve that insurance. >> senator, it is very laudable, what you're saying but

vitter: first of all, i voted for that budget as well as the toomey budget.he toomey budget, which was my first choice preference, balances the budget in ten years. that would be my first choice. of the ryan budget gets us way down the path compared to anything else proposed on the democratic side, which on the senate floor actually got zero votes out of 100. while the ryan budget is not my first choice, it's a dramatic improvement on the path we're currently on. shy shy the high -- mr. schumer: the ryan budget is not a step in that direction. the ryan budget, as i understand it, does not do a thing in the first decade to reduce the deficit. it cuts a lot of spending, but it also cuts taxes tanned raises defense spending. mr. vitter: if i may respond through the chair, that is not true. it reduces the deficit. it doesn't balance the budget within the t-pb-year window, which is my strong preference. the toomey budget does do that, but it gets us going in the right direction. it reduces the deficit, and it's a particularly dramatic improvement over anything spo

>> sure, and that is where the toomey legislation comes in and the paul ryan budget legislation comes in. there in several republicans proposals put or to start putting us on a course toward balancing our budget and that is part of what this legislation takes into account. and there are a number of things that we could do to get us on that course. some have suggested converting our current medicare system into a premium support model instead of a defined-benefit model, which we are on right now. >> what you do you make of the constitutional argument that the working amendment would allow the president treasury to create that without having a debt limit vote and how would congress respond if that is done? >> treasury secretary timothy geithner is mistaken when he makes the argument that section 4 of the 14th amendment somehow authorizes the executive branch unilaterally to bring about a debt limit increase. what section 4 the 14th amendment says in essence is that the civil war deaths of the united states united states government would be honored and those of the confederacy would not.

done toomey was found dead in an apartment which at a residential hotel in san francisco yesterday.estaurant hired him after macy's dumped him, even gave him a lifetime contract to play st. nick. he was 69 years old. he's believed to have died from natural causes. quite the guy. >>> the highway patrol has started a new crackdown on speeding on the bay bridge. officials are worried about speeding on one section in particular. the temporary s curve, speed limit signs, flashing lights and the rumble strips warn motorists to slow down to 40 miles an hour, but sensors built into the bridge have detected excessive speed during off-peak hours. >> we found that the sensors that caltrans has put up has shown an increase of 10 miles an hour. >> in the bay area generally people tend to drive way faster than the speed limit and i notice that chp doesn't really stop you unless you're going, you know, above the flow of traffic. >> now the chp is doubling the numbers of patrols on the bridge. they're watching out for people who speed once aurora is over. the goal is to, of course, cut down on seri

. >> senator toomey. >> thanks to the witnesses for being back once again. two questions. i would like to direct to miss schapiro. you know better than anyone that last year the fcc developed a whole new set of rules and regulations regarding money market funds to tighten standards for credit quality and enhance liquidity and short and portfolio maturities and meaningful measures to basically diminish the risks. significantly reduce the risk that any kind of run would be likely to occur or systemic risk from these funds. nevertheless we do hear a discussion from time to time that there is also an interest in moving -- what concerns me about a floating net asset value is the complexity of a minister in this or keeping up with the paperwork and tax implications that could be complex and onerous to a large part of the financial system. my question is imposing the net asset value, is that under consideration or off the table? >> fsoc is taking an interest in a money-market fund issues. we do a complete overhaul of money-market funds for credit quality and liquidity standards a

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

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

a have to recall looking back, toomey she came across as rather dowdy but i am sure at the time -- >> we will talk about that. next week with maurine beasley she will be talking about her book on eleanor roosevelt and it was my pleasure to serve as a reviewer for that book so you are in for a treat to hear maurine beasley and to read the book. she thought about the impressive speaking abilities of eleanor roosevelt and her fashion because we will compare and contrast jacqueline kennedy. other first ladies, your first impression, first memory of a first lady. yes? >> mine is eleanor roosevelt. hy was born in washington shortly before -- my mother was a reporter who covered eleanor roosevelt. and the white house -- >> wonderful. we have someone here in the audience based in washington at the start of the new deal. her mother covered eleanor roosevelt. this lady was invited to party with eleanor roosevelt. this is the wonderful thing about speaking in washington d.c. because everyone has a story. are have given this talk fairly frequently when i was in college and i asked this very quest

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

this analysis is consistent with everything that my colleague and friend from pennsylvania, senator toomey, has been saying for months. he understood early on that regardless of the rhetoric, there would be no default -- excuse me -- on august 2. the administration is fully capable of prioritizing payments. there's a much more pressing issue than imminent default. a credit downgrade due to the failure of congress to use this opportunity to take significant deficit reduction measures. that is the real takeaway from moody's report. quote, "reductions of the magnitude now being proposed if adopted would likely lead moody's to adopt a negative outlook on the aaa rating." the chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high, unquote. that's moody's. our debt has become so unmanageable that we face a credit downgrade with cons subsequent higher interest rates if we do not enact a big-time deficit reduction package. now, this year is our third straight trillion-dollar deficit

toomey: i'd be happy to yield. mr. reid: i appreciate it very much. i'm sore to -- i'm sorry to, and i ask unanimous consent that my friend's statement not appear interrupted in the record but i have a unanimous consent request i need to do prior to 2:00. the presiding officer: without objection. mr. reid: pursuant to the order of july 21, 2011 after having notified the republican leader, i ask that we proceed at 2:00 p.m. today to executive session for the consideration of calendar number 276, robert s.muir to be director of the federal bureau of investigation. it is my understanding this debate is to take two hours. is that true? the presiding officer: under the order of july 21, the senator is correct. mr. reid: i express my appreciation to my friend for allowing me to interrupt him. the presiding officer: the senator from pennsylvania. the majority leader has the authority under that order. mr. reid: at 2:00 we will move to this? the presiding officer: that is correct. the senator from pennsylvania. mr. toomey: thank you, mr. president. i was clos

you're wrong, about 20% holding hostage. 24r50e69 at least on the conservative and republican side, toomey's plan, ryan's plan. where's nancy pelosi's plan and barack obama's plan? one more point. >> there's a plan out in. people's budget. cutting $5. trillion over the course of -- >> in the senate, that's not republicans. >> the plan -- >> 97 -- >> listen, i'm not a democratic senator. you asked is there a plan out there to do it. there is one. >> let's break this back in two. chew off one thing at a time. let's stick with jobs and debt now and come back for democrats and republicans later. >> a solution was laid out will. it's not the president's budget voted down 97-0. that couldn't be scored by the cpo, because it was so vague. what is out there is the bowles simpson bipartisan support that cuts $4 trillion out of the deficit, raises revenue by close to a trillion dollars but at same time it's raising revenue by closing loopholes and getting rid of subsidies it's low, the margin's individual income tax players to 23%. it's low aring the corporate rate to 22%. that's going to create jobs.

the toomey budget cuts 2% off the budget. if you ask a department head to cut 2% off the budget, they wouldn't break a sweat. when you hear about the huge cuts, we're talking about reducing the rate of growth and spending. the president's budget goes from $3.7 trillion to $5 trillion to our debt in ten years. the ryan budget goes from 3.5 trillion up to 4.7. you are still increasing spending. you are just doing it at a slower rate. >> what you're presenting there sounding reasonable. if it is so reasonable as you make it appear, why haven't they agreed on anything? >> it is reasonable. they haven't agreed on anything because it's business as usual in washington. the democrats want to defend all of their spending. they like the fact that the federal government right now spending 25 cents of every dollar of our economy. they want to defend that. what we're saying is let's cap spending over a long period of time. nobody is talking about cutting off the government and going to a balanced budget immediately, but over a glide path,

can see what senator boehner has, congressman ryan had in his budget plan for ten years, senator toomey proposed a very thoughtful ten-year budget plan, balanced our budget in ten years, not easy toad to do. he did it. we need for thinking like that. and get away from this confusing mishmash and claim that i'm saving $1 trillion when nobody plans for us to be spenting $150 $150-plus billion on the war in iraq and afghanistan for the next ten years. that money has never been projected to be spent in that fashion. so, mr. president, we are in a situation where it's important for the country to reach an agreement. we need to pass something that raises the debt ceiling in america. i thiet say that, but that is -- i hate to say that, but that is a fact. it would be too disruptive not to do that. but, in exchange for that, as a part of that process, we truly need to start bringing our house into financial order. we are in disarray and disorder. if we were to do that, we can leave this a better country for our children and grandchildren. i know some just want to surge spending and then raise t

. >> 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

senator toomey proposed a very thoughtful ten-year budget plan balanced by a budget in 10 years. not easy to do. he did it. we need to be thinking like that. and get awayand from this confua mishmash and claim that i am saving a trillion dollars when nobody plans for us to be spending $150 billion plus on the war in iraq and afghanistan for the next 10 years. that m boney has never been in projected to being spent in that fashion. so, mr. president, we are in att situation where it is important agreement. we need to pass something that raises the debt ceiling in thi s america. t i hate to say that but that is a fact.it w it would be too disruptive not to do that.xc but, in exchange for that, as aa part of thatrt process, we truly need to start bringing our house into financial border. we are in disarray andif discourse. if we were to do that, we coulds leave this a better country for our children and grandchildren. i know some just want to start spending and then raise taxes to pay for it. the defense department last year got about a 2% increase, 3%crea. increase.ctedbo next year

. >> nt: well you say that, but so of your colleagues as you know like senator demint and toomey say, hey, it' not that big a deal if we hit august 2 and there'sno deal. >> well, i've got to tell you, there's not a responsible economist from left to right, there is not a single business leader or a single person involved with the markets that acce that. you ll already start to see, i think, by mid to late july a risk premium built in. you've already seen credit default swaps for american debt cost higher now than they do for countries like panama and the philippines and mexico a acpt they're betr credit risks than america. i think that's a remarkably naive view and there's no responsible business leader or dmais has that view. so i think cooler heads will prevail. i'd like to see the business community more at the table. they so expect us to get something done. i wish they were walking the halls of congress demanding that we do the kind of responsible approach senator crapo and i have been working on. >> hunt: senator warner, you wrote a column in the "washington post" about at. if it

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

toomey: thank you, madam president. last january, probably late in the month i think it was, it occurred to me that as we proceeded in the direction of approaching the statutory limit of our borrowing as a government that the discussion was becoming a little bit counterproductive in some respects. one in particular was this constant threat that we would default on the loans that we had taken out as a government, the bonds that were held by millions of americans and that that default would have cataclysmic repercussions. it occurred to me that this is an unproductive discussion, in part because no such default was ever going to happen. it certainly didn't need to happen. in the event that we didn't raise the debt limit upon reaching it or prior to that, we would have enough ongoing tax revenue to cover the debt service by many, many multiples. and so i introduced legislation that would clarify this and would take this risk off the table, try to provide some clarity to markets and to senior citizens who are savers and who

. >> 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

it seems to me that senator toomey is way off base. there are obligations pare. i am surprised at it. in today's wall street journal i think it stated that standard and poor's said there would likely downgrade u.s. debt if we miss other obligations. >> next, short-term extension. leader cancer has been pushing this. they have advocated shorter- term ones. markets would relieve that it is off the table. it is better than not doing anything. do you believe they would start to get nervous that we cannot find a political will? >> it is important to raise the debt ceiling. it is important to show that we make progress. >> i am talking about renewal of the debt ceiling by such a little amount that month after month we will have to come back. is it preferable to do it in a large amount as possible? >> they get a big of a deal. we will do it in a long term. >> it is a 1 month extension of the debt ceiling compared to doing it until 2012. >>, the risk is that you lose credibility in the markets about your willingness to experience a few did that, it would be important to

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

obama do more is speak in a different language and i know of the reason he doesn't but part of what i toomey was at stake in the whole burr certificate madness is the fact that iraq obama actually knows from whence he comes on the continent of africa. it is precisely the thing that makes barack obama not enough for the right, because what the right wants us to experience and in fact what i think most of the white american construction for most of black history as we have to experience rootlessness. we are not supposed to nowhere burr certificate is. we are not supposed to nowhere re-air from. so when i read that i thought yes it is about the limitation of black nationalism but also about the limitations of american this, so we do this it is not civil rights but human rights. but the fact that literally english fails to have the discourse, the words, the vocabulary the construction of sentences necessary to reveal the depth of black suffering and so, we see this malcolm at the end of manning's book who is like, i keep wanting him to stay. he is there and he whistled with dubois and he is with