Senate Democrats unveiled a plan to raise the debt ceiling Monday that abandoned President Obama's call for revenue increases as part of a deal, putting forth a plan they said would cut spending by $2.7 trillion.
"This is an offer that Republicans can't refuse," Sen. Charles Schumer said. Just hours later, House Speaker John Boehner decried the plan as "full of gimmicks."...MOREFrom CNNMoney:
Budget games: Debt ceiling plan counts on war savings
From USA Today's The Oval blog:
Obama backs Reid debt plan; will speak at 9 p.m.