The level of frustration felt by some on Capitol Hill has reached the point that even a Republican leader is proposing giving President Barack Obama the power to increase the debt ceiling on his own without the approval of Congress.
A long-shot proposal by Senate Minority Leader Mitch McConnell of Kentucky highlights the realization that the debate over taxes and revenue is at a standstill and cannot be resolved by continuing to fight.
While tea party zealots screamed in dismay over McConnell’s proposal, calmer heads appeared to realize that no other option may be available to resolve the issue.
“I think everybody agrees there needs to be a backup plan if we can’t come to an agreement and frankly, I think Mitch has gone good work” Speaker of the House John Boehner said Tuesday.
McConnell says Obama could secure increases of up to $2.5 trillion in the government’s borrowing power in three installments over the next year as long as he also offered up spending cuts that offset the borrowing.
Such debt limit hikes would take effect unless Congress blocks the action and Obama could use his Presidential powers to veto that vote.
The idea — of course — didn’t set well with power-mad conservatives.
“The American people elected McConnell to serve as a check on Obama’s appetite for out-of control spending, not to write him a blank check to continue the binge,” right-wing firebrand Brett Bozell told The Associated Press. “It’s these short of shenanigans that got Republicans thrown out of power in 2006.”
- Mitch McConnell Offers Alternative Debt Ceiling Plan (huffingtonpost.com)
- Senate Republicans propose debt ceiling fallback option (cnn.com)
- Rundown of Mitch McConnell’s proposed debt limit failsafe (shortformblog.tumblr.com)
- Republican would let Obama raise limit (boston.com)
- McConnell Offers ‘Last Choice’ Debt-Limit Plan to Avert Default (businessweek.com)