From article:
The Republican plan would require that Obama submit spending cuts along with his borrowing requests.
But once he has the money then he doesn’t have to cut regardless what he says.
The debt deal Mitch McConnell is offering is confusing a lot of people, so heres the core of it: Until now, Republicans have wanted a policy payoff for permitting President Obama and the Democrats to raise the debt ceiling. McConnell is proposing to replace that with a political payoff. Thats it. Thats the deal. The question is why House Republicans would go for it.
The process McConnell is proposing would go like this: First, Obama would submit a request for a $700 billion increase in the debt ceiling, along with a nonbinding proposal to cut spending. That would automatically trigger a $100 billion increase in the debt ceiling to give Congress time to consider the request. Congress could then vote to either approve or disapprove of the presidents request. 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
My guess is McConnell is about to suffer a serious backlash from his base. As much as the Senate minority leaders political incentives might differ from those of the speaker of the House, his ideological incentives are supposed to be the same. And if you believe, as most Republicans do, that the debt ceiling offers a generational opportunity to extract huge concessions from the Democrats, then walking away from that leverage simply isnt an option, and any member of the Republican leadership who proposes to do so has to be seen as intensely suspect.
Notice the wording in proposed cuts - nonbinding.
But he will be given the Option to veto those cuts later!
BFD. A "cut" could be anything... like a 10% "cut" in his proposed 500% increase in ACORN funding.