Here’s the AP newsflash: “WASHINGTON (AP) _ GOP Leader McConnell proposes giving Obama new power for automatic debt limit increase.”
Here’s Rich Lowry: “It’s beginning to get out on the Hill. It’s complicated, but here is the gist as I understand it: Congress authorizes in legislation the president to submit a request for an increase in the debt limit in three tranches over the next year or so, with corresponding proposals for spending cuts; when the president submits his request, Congress immediately considers a resolution of disapproval; if the resolution passes, the president can veto it and–assuming his veto is subsequently upheld–he gets the increase in the debt limit. Got it? More later…"
Granted, McConnell cuts quite the handsome figure on the Beltway cocktail circuit. And he's so eloquent, debonair and articulate.
Sarc off. Enough is enough. If this story is legit, McConnell must go. Now.