Senate GOP leader: Obama should offer deficit plan

By the Associated Press | November 13, 2012 | 3:34 PM EST

Senate Minority Leader Mitch McConnell of Ky., second from right, meets with newly elected GOP Senators, Tuesday, Nov. 13, 2012, on Capitol Hill in Washington. From left are, Sen-elect Jeff Flake, R-Ariz., Sen-elect Deb Fischer, R-Neb, McConnell, and Sen-elect Ted Cruz, R-Texas. (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) — Senate Republican Leader Mitch McConnell says it's up to President Barack Obama to present a deficit reduction plan rather than a campaign slogan to Congress.

The Kentucky Republican said that like House Speaker John Boehner, he is ready to support new revenue as part of a deal that reins in government benefit programs like Medicare and Medicaid. But like the speaker, McConnell also says it's a non-starter to talk about raising tax rates as the president has proposed for the wealthiest taxpayers.

McConnell said the time for slogans and pep rallies has passed, and if the president is serious about solving the nation's budget problems, he has to step up and lead.

He made his remarks on the Senate floor as lawmakers returned for a post-election session.