Conservative blog site asks readers to send Sen. McConnell a weasel for his debt proposal

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The initial legislation would authorize the President to submit a request to Congressasking to increase the debt limit by $700 billion, and would require submission of a plan to reduce spending by a greater amount.

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Upon receipt of the President’s request, the debtlimit would be provisionally increased by $100 billion to provide breathing room and avert an August 2nd default.

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The House and Senate would have 15 days to disapprove of the request.

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Within three days of the President’s request, it would be in order for the House and Senate to introduce a joint resolution disapproving of the President’s request.

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Under expedited consideration of the Resolution of Disapproval, the resolution would be placed directly on the Senate calendar; the Motion to Proceed to the resolution would be privileged; there would be 10 hours of debate and passage would require a simplemajority.

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If either chamber defeats the resolution, the remaining $600 billion increase would be allowed.If both chambers pass the resolution, it would be sent to the President for a veto or signature.

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If vetoed, debate on an override would be limitedto one hour.

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If the veto is overridden (which would require a 2/3 vote) in both chambers, then the request would be denied and the provisional $100 billion increase revoked.

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If the veto is sustained in either chamber, the remaining $600 billion increase would be allowed.

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For the second and third requests in fall 2011 and summer 2012, the President could request an increase of the debt limit by $900 billion once the Treasury Department determines that the country is within $100 billion of the debt limit. The President would also be required to submit a plan to reduce spending by a greater amount. Each of these subsequent requests would be subject to the same disapproval process outlined above.