GOP Senator Frowns On New Obama Debt Powers

By: Associated Press Email
By: Associated Press Email

South Carolina Sen. Jim DeMint said the idea from Kentucky Sen. Mitch McConnell isn't something he likes.

"Republicans weren't elected last November to make it easier to spend and borrow and add to our debt." DeMint said.

Obama and congressional leaders are discussing how to avoid a government default threatened for Aug. 2.

Under McConnell's plan, Obama could request increases of up to $2.5 trillion in borrowing authority in three installments over the next year, as long as he simultaneously proposed spending cuts of greater size.


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