7 July 2011 0 Comments

Pat Toomey: Debt Reducton 3 Specific Approaches & Ethanol and Farm Subsidies

Pat Toomey in WSJ: How to Freeze the Debt Ceiling Without Risking Default Next year, the government will have 10 times more income than it needs to honor its interest obligations

Pay the bonds and then engage in selective, sequential shutdown of nonessential and ineffective government programs, including Ethanol Subsidies and Farm Subsidies1. Even Sen. Casey and Sen. Feinstein think Ethanol Subsidies need to be phased. Subsidizing Ethanol does not produce more energy, or more food.

SEN. TOOMEY: SENATE SHOULD WORK ON DEBT REDUCTION INSTEAD OF RECESSING


WASHINGTON, D.C. — Today, U.S. Senator Pat Toomey (R-Pa.) joined many of his Senate Republican colleagues in urging Senate leadership to stay in session next week to tackle the country’s deficit and debt problems instead of adjourning for recess.

  • Full Faith and Credit Act: The Full Faith and Credit Act allows Congress and the administration to engage in a serious debate about the debt limit by taking the possibility of default off the table.
  • Fiscal Year 2012 Budget: Sen. Toomey’s 2012 budget resolution is a detailed plan for achieving a balanced budget in nine years.
  • Spending Caps Act of 2011: The Spending Caps Act enacts budget cuts based on Sen. Toomey’s 2012 budget proposal that will significantly reduce our deficit over the next ten years.

Pennsylvania’s Farm Subsidies 1.81 billion in subsidies 1995-2010. This website breaks out subsidies by counties and by type of subsidy, such as Dairy Subsidies, and it names names of recipients of taxpayer subsidies.

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