McConnell said he could not understand the position of Democrats who wish to raise taxes and continue overspending, considering the nation’s dire fiscal situation.

"In a discussion about reducing the debt they want to increase spending," he said. "In the middle of a jobs crisis they want to slam already struggling businesses with a massive tax hike.”

McConnell said that following next week’s recess, Senate Republicans plan to launch a serious push to bring a constitutional amendment to the Senate floor that would prevent future federal governments from spending beyond their means.