Kentucky U.S. Senator Mitch McConnell said Tuesday that Republican lawmakers are considering allowing President Obama to unilaterally increase the nation’s debt ceiling, a move that would represent one of the largest transitions of power in modern history.
Under a proposal put forth by Mr. McConnell, Mr. Obama could request increases of upwards of $2.5 trillion in the government borrowing authority in three separate installments over the next year, while simultaneously proposing spending cuts of greater size.
The proposal comes just hours after Mr. McConnell slammed the Obama administration’s handling of the current debt talks, saying Republicans would not concede their position.
“Republicans will choose a path that actually reflects the will of the people, which is to do the responsible thing and ensure the government doesn’t default on its obligations,” Mr. McConnell said.
“I have little question that as long as this president is in the Oval Office, a real solution is unattainable,” Mr. McConnell added.
President Obama, who is set to host another series of talks Wednesday, responded to the proposal, saying it did little to provide a path towards a reasonable compromise.
“I think what the American people are looking for is not that kind of partisan politics,” Mr. Obama said in an interview with CBS News. “What the American people are looking for is somebody to solve problems.”
