Wednesday, July 13, 2011

Mitch McConnell offers Last-Choice Option to Debt Ceiling

Senate Minority Leader Mitch McConnell, R-Ky., may have come up with a plan to relieve pressure on congressional Republicans as the debt ceiling negotiations intensify with the Obama White House. McConnell announced a plan that would essentially give President Obama the power to raise the debt ceiling through the end of his first term on his own, calling it a “last-choice option” that would enable the United States to avoid default if negotiators fail to reach an agreement by August 2.
The complicated proposal would accomplish two goals: It would give Republicans the ability to say that they are not for default under any circumstances, and it would foist full ownership of the debt ceiling on Democrats.
Under the plan, Congress would pass a bill granting Obama the authority to raise the debt limit on his own provided he notified Congress of his intent to do so. His request to Congress for greater borrowing authority would be subject to a resolution of disapproval, which McConnell said would likely pass both chambers. Obama would then have to veto the resolution, forcing Democrats to back up his veto by a one-third-plus-one vote in each chamber. At the same time, Obama would be required to outline spending cuts he would approve equal to the amount of his extension request.

After listening to the above video explaining the plan, the following is the first thing that popped into my head:

The full story is HERE.

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larry said...

What the hell?

Ohio JOE said...

This guy is a fool and we are almost as foolish for letting this clown lead us in the Senate.

Anonymous said...

Boehner called this a last choice possibility.

It would only allow the debt ceiling raised temporarily in 3 stages by executive order UNTIL 2013!