McConnell: Smaller Debt Deal Needed

Senate Minority Leader Mitch McConnell says he agrees with House Speaker John Boehner that a deal to cut $4 trillion and raise the nation’s debt ceiling is not going to happen, Politico reports.

Appearing on “Fox News Sunday,” McConnell said Boehner was right that the White House’s insistence on increasing revenues is the deal breaker.

“I think it is because everything they’ve told me and the Speaker is that to get a big package would require big tax increases in the middle of an economic situation that’s extraordinarily difficult with 9.2 percent unemployment — we think it’s a terrible idea, it’s a job killer," McConnell said.