McConnell stops Schumer's latest attempt to raise debt ceiling

Democrats are trying to come up with another way to raise the debt limit after Republicans blocked their latest effort Tuesday. The U.S.is now heading toward default in just a few weeks, which could have catastrophic economic consequences, government officials and economists warn.

Senate Majority Leader Chuck Schumer on Tuesday called for unanimous consent from the Senate to hold a vote to increase the debt limit with just a simple majority of senators. He argued Republicans have been insisting Democrats act alone to raise the debt limit, so a unanimous consent vote fulfills that demand. But Senate Minority Leader Mitch McConnell objected — forcing Democratic lawmakers to come up with another plan. 

"There is no chance, no chance the Republican conference will go out of our way to help Democrats conserve their time and energy, so they can resume ramming through partisan socialism as fast as possible," McConnell said.