McConnell: Panel to devise new debt planPublished: July 15, 2011 at 4:30 AM WASHINGTON, July 15 (UPI) -- A new bipartisan debt-reduction panel will be told to devise a plan by year-end to stabilize the national debt, Senate Minority Leader Mitch McConnell said. The committee of 12 lawmakers from both houses will be charged with drafting a long-term sovereign-debt plan whose recommendations will be fast-tracked to House and Senate votes without amendment, McConnell, R-Ky., told conservative talk show host Hugh Hewitt Thursday. The committee will also identify savings in Social Security and Medicare and other entitlement programs to reduce the...