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.Listen to the full speech below.