The Full Faith & Credit Act, introduced in the Senate (S163) by Senator Pat Toomey (R-PA) and in the House (HR 421) by Congressman Tom McClintock (R-CA), offers the Congress a way to inoculate themselves from the “World will come to an end if we don’t raise the debt limit!” argument. In a nutshell, these bills would require the government to pay interest and principle on our debt, with existing revenue, before paying any other claims on the Federal Treasury.
The passage of this Act will allow for an honest and open, thoughtful and intelligent debate on cutting our spending. A debate we must have, followed by implementing the difficult decisions that will surely follow.
You must read these bills. They are short and sweet and to the point – just the way we’d like to see all of our legislation!
Please sign the petition and tell your Senators and Congressman you would like them to support The Full Faith & Credit Act!
The picture shown above was taken on October 9, 2008!