Economy
7:52 pm
Wed August 10, 2011

Toomey Joins Federal Debt Panel

U.S. Senator Pat Toomey (R-PA) will be part of the twelve-member panel charged with writing a plan to reduce federal debt by more than $1 trillion.

Senate Minority Leader Mitch McConnell named Toomey, a former investment banker, to the congressional super-panel today. Toomey, a freshman Republican, said he is "very honored" to serve on the committee when it meets this fall.

"We need to get our spending under control," said Toomey, "and we need to do it in a way that will maximize economic growth."

Toomey said this is an important moment in the history of the country, and he plans to address the nation's challenges aggressively.