“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump
There is no purpose to negotiating with the freaks that make up Tea Party Occupied Congress. They need to be whipped and chastized and humiliated. That's the only semantics they understand. And finally, Obama get it.
Toomey's proposal would require that revenue going to Treasury first be used to pay interest on U.S. debt, Social Security benefits and active-duty military pay.
If there's not enough revenue available to cover those payments when they're due, the bill would also give limited authority to Treasury to raise the debt ceiling just enough to borrow the difference between revenue on hand and what's owed on the priority payments.
Debt ceiling stop-gap: GOP would pay some bills over others - Jan. 18, 2013
IMO, this is not a responsible proposal for a number of reasons:
1. It does not assure "full faith and credit" as the legislation would fail to honor a large number of obligations to which policy makers have agreed.
2. If this is their idea of fiscal reform, there is a stunning lack of courage. Under such a scenario, its proponents would seek to eliminate a large portion of federal programs, including but not limited to Medicare, without explicitly acknowledging what they are doing. If Senator Toomey wishes to eliminate Medicare immediately with no transition, he should have the courage to say so. Much more likely, Toomey and other proponents of such legislation haven't thought through the consequences of their proposal. Nevertheless, refusing to fund Medicare would impact seniors' access to health care, especially if funding delays are prolonged.
3. Once achieved, there is no indication that these Members would then demonstrate flexibility to reach a pragmatic compromise.
4. With respect to point #3, none of those members offered a corresponding piece of fiscal consolidation legislation to supplant what amounts to backdoor partial default. How would they reform the mandatory spending programs? Simply paying Social Security as is and not paying Medicare is not a serious reform proposal.
5. Numerous basic services related to public safety ranging from the FAA to National Weather Service would not be funded.
IMO, this legislation should be rejected and, if it passes the House, the Senate should not even consider it. It is not a serious fiscal consolidation package (allowing the sequester to take hold is a more realistic approach and given Congress's recent thinking, it might be the best option available at present). In fact, it might actually create obstacles to fiscal consolidation by making the consequences of intransigence less costly and, thereby, undermining incentives to reach agreement on a fiscal consolidation program.
Partial default is a bad option. Toomey's packaging doesn't change that reality.