Minority Leader Mitch McConnell, R-Ky., released what he is calling a “contingency plan” for the debt limit negotiations this afternoon. Essentially the plan would grant President Obama exactly what he has been asking for all along: a clean $2.5 trillion debt limit hike. In exchange, Republicans would get three meaningless cover votes disapproving the borrowing authority increase. Here is how McConnell’s office is pitching the plan: