McConnell offers "backup" debt limit plan

WASHINGTON Tue Jul 12, 2011 3:11pm EDT

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WASHINGTON (Reuters) - Senate Republican leader Mitch McConnell proposed a "backup plan" on Tuesday that would allow a divided Congress to raise the debt ceiling with just the votes of Democrats.

The complicated legislative maneuver would avert an imminent default and let Republicans wash their hands of the politically toxic issue.

As outlined by McConnell, President Barack Obama would formally request an increase in the $14.3 trillion debt ceiling, which Congress would reject through a "resolution of disapproval."

Obama would then veto that resolution and send it back to Congress. If Congress failed to muster the two-thirds vote needed to override a veto, the debt ceiling would effectively be lifted by the amount Obama had requested.

Obama and congressional leaders have failed so far to come up with a budget deal that could pass both the Republican-controlled House of Representatives and the Democratic-controlled Senate.

(Reporting by Andy Sullivan; Editing by Sandra Maler and Vicki Allen)

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Comments (6)
WIDTAP wrote:
Obama should include revenue increases and spending cuts in his request, per a program that Biden outlines, and use the Democratic votes to block any veto override.

This would put the Democrats in charge of governance over the deficit and debt. Obama would then just have to deal with the Democrats, who are likely to consider appropriate compromises to insure the ongoing viability of Social Security and Medicare.

Jul 12, 2011 3:24pm EDT  --  Report as abuse
frostyfrosty wrote:
This guy is a piece of work. He’s gone from, ‘A deal is impossible as long as this president is in the White House.’ to here’s how the president can trick the system to get his debt ceiling increase without giving any spending cuts in return (and republicans won’t have to talk to him ever again).

Jul 12, 2011 3:26pm EDT  --  Report as abuse
Owkrender wrote:
It’s the old “abdication” trick…

Jul 12, 2011 3:48pm EDT  --  Report as abuse
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