McConnell Proposes 'Plan B' on Raising the Debt Ceiling

Wednesday, July 13, 2011

As the August 2 deadline to raise the debt ceiling draws closer, there's more talk about the dire economic consequences that will ensue if policy makers in Washington fail to reach an agreement on a budget plan. Senate Republican leader Mitch McConnell says that a bipartisan agreement is not likely to happen, and has proposed a plan in which the president could increase the federal debt limit without Congressional approval.

Is McConnell's proposal a sign of Washington dysfunction or a brilliant negotiating move? Takeaway Washington correspondent Todd Zwillich has the latest on McConnell's plan, and the conservative reaction to it. Steve Smith, professor of political science at Washington University, discusses the government's history of dysfunction when passing spending bills.

Guests:

Steve Smith

Produced by:

Jen Poyant

Contributors:

Todd Zwillich

Comments [1]

listener

Purity caucus? Where was all this concern about compromise for four years when that other "purity caucus" called the Democrats were in complete control of the Congress? They deliberately created the largest ruinous debt in world history despite the protests of the Tea Party and others who they defamed, derided and demonized as heretics for daring to question their recklessness? If that was not a pernicious "purity caucus" than nothing is. If Democrats had put aside their trillion dollar power grab and heeded the concerns of their opposition, would we be facing a debt crisis today of this magnitude? It was "progressive" crackpot economics and vicious demagoguery that led us to this crisis and it continues unabated while we wonder why unemployment is at record levels in the US and European economy is in meltdown.

Jul. 13 2011 08:07 AM

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