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Mitch McConnell Debt Ceiling Plan: Senate GOP Leader Offers Alternative To Obama’s ‘Grand Bargain’ [UPDATED]

 

 

WASHINGTON — Senate Minority Leader Mitch McConnell (R-Ky.) floated a novel way out of default Tuesday, suggesting that Congress give up its power to raise the debt ceiling, and instead effectively transfer that authority — and the political pain that comes with it — to the White House for the remainder of Obama’s current term.

With eight days until the administration-imposed deadline to reach a deal, Senate Majority Leader Harry Reid (D-Nev.) told reporters he had no plans to “trash” McConnell’s plan and would give it a close look.

via Mitch McConnell Debt Ceiling Plan: Senate GOP Leader Offers Alternative To Obama’s ‘Grand Bargain’ [UPDATED].

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