EKB News

{Kentucky}...The United States must raise the $14.3 trillion debt ceiling by August 2nd  or risk default, an event that the Obama administration and many financial analysts warn could trigger a deeper recession and worldwide financial chaos. Senate Minority Leader Mitch McConnell sharply criticized President Barack Obama Tuesday, saying there is no chance of a bipartisan deal on spending and debt with “this president … in the Oval Office.” McConnell’s plan would allow raising the debt ceiling three times between now and the end of next year. House Speaker John Boehner, R-Ohio, says raising the nation’s debt ceiling was the president’s problem, but he did not know if McConnell’s proposal could get through the House. A conservative group, For America, immediately accused McConnell of going too far.