McConnell: No real deficit deal until Obama is gone
The Senate's top Republican said Tuesday that he did not see a way for Republicans and Democrats to come to agreement on meaningful deficit reduction as long as President Obama remains in office.
"After years of discussions and months of negotiations, I have little question that as long as this president is in the Oval Office, a real solution is probably unattainable," Senate Republican Leader Mitch McConnell said in remarks on the Senate floor.
The remarks come as negotiations between Republicans and Democrats intensify on long-term deficit reduction ahead of a looming deadline on how much the United States can legally borrow.
Treasury Secretary Timothy Geithner and many economists have warned of economic catastrophe if the $14.3 trillion debt ceiling is not raised before August 2.
And lawmakers from both parties want to use the threat of that deadline to work out a broader package on long-term deficit reduction. Republicans are looking to cut trillions of dollars in federal spending, while Democrats are pushing for a more "balanced approach," which would include both spending cuts and higher revenue to the government.
