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McConnell Defends Debt Plan
Calling for a real debate, Minority Leader Mitch McConnell, R-Ky., went to the Senate floor Wednesday to defend his debt proposal to avoid the first-ever government default before the August 2 deadline. The McConnell option gives President Barack Obama new power to request increases of up to $2.5 trillion in three separate installments over the next year as long as they’re coupled with larger spending cuts.
Reports have already said the plan is dead on arrival in the Republican-controlled House and the proposal has been criticized by other GOP lawmakers and presidential candidates, but McConnell says he proposed the so-called “back-up” plan because the president is shirking his duty and playing games with the debt.
McConnell also reiterated the importance of passing a Balanced Budget Amendment.