Sen. McConnell talks about debt, S&P, and Obama's intelligence

By: Dave Spencer Email
By: Dave Spencer Email

Kentucky Senator Mitch McConnell had lunch and spoke with around 200 business minded professionals Monday in Clark County. He defended the decision to raise the debt ceiling.

For a little more than an hour, the UK extension office in Clark County was turned into a town-hall meeting with McConnell, who's also the Senate minority leader.

McConnell, a Republican, started by defending the decision to raise the country's debt ceiling.

"America is not going to default on it's obligations," said McConnell.

He stands by the decision, despite Standard and Poor's decision to lower the U.S. credit rating.

"We are on an unsustainable path," says McConnell. "The fear factor from S&P, lowering the rating, may prove to be helpful."

Helpful, he says, because of a new committee to made up of 12 congressional leaders.

McConnell says these 12 leaders must make at least $1,200,000,000,000 worth of cuts to federal spending before Christmas.

He says the downgrade may be motivation for the 12 lawmakers make those cuts before other financial service companies downgrade the credit rating like S&P did.

McConnell was also asked what the credit rating will mean for businesses in Winchester.

"I don't know, we've never been here before," says McConnell. "I don't want to speculate. It's certainly not good, there's nothing good about it."

One of the audience members was also curious about his interaction with President Barack Obama during the last few days.

"What is he like behind closed doors?" asked Spencer Blue of Freedom Metal.

"The president is a really smart guy," was McConnell's response. "It's OK. We don't hate each other, we just have very different views on what the country should be."

Two different views, he says but one goal in mind, to get the country out of an economic crisis.

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