 
 
 The debt deal Mitch McConnell is offering is confusing a lot of people, so here’s the core of it: Until now, Republicans have wanted a policy payoff for permitting President Obama and the Democrats to raise the debt ceiling. If they disapprove of it, however, Obama could veto their disapproval, and unless two-thirds of both chambers voted to overturn his veto — a virtually unthinkable outcome given that Democrats control the Senate — he could raise the debt ceiling anyway. No way.” Speaker John Boehner’s spokesman Michael Steele, meanwhile, said, “the Speaker shares the Leader’s frustration,” but stopped well short of saying he shares his solution. It would mean they have to take a vote to hand power on the debt ceiling over to the White House. We’ll carp.” 
 
 But perhaps I give McConnell too little credit, and the Kentucky Republican is simply terrified that Republicans and Democrats really won’t come to an agreement on the debt ceiling and he’s desperately searching for a way past the gridlock.
– Another day, another round of meetings and threats, and still no deal on the debt ceiling. But the big news looks to be a surprise "backup plan" from Mitch McConnell that would give President Obama unprecedented power to raise the debt ceiling by $2.4 trillion in three installments through the end of his term, reports Politico. Congress could theoretically reject the separate requests, but Obama's veto power makes it a virtual certainty that all would go through. (The Hill has more details.) McConnell said he reluctantly offered the plan to give the markets confidence that the US would avoid a default if no other deal is reached. Republicans would be giving up leverage but getting a "political payoff" in return, writes Ezra Klein at the Washington Post. Obama and Democrats would get "100% of the blame" for raising the ceiling, and no Republican would have to vote in favor. It's not clear yet whether the White House or even the GOP rank-and-file will go along, however. The National Review quotes a Republican aide in the House who thinks it will never fly because it means giving up too much power.