Obama Summons G.O.P. and Democratic Leaders for Deficit Reduction Talks

July 6, 2011

By Dave Boyer and Stephen Dinan-The Washington Times

President Obama on Tuesday called on Congress to “do something big” to reduce the federal budget deficit, spurned talk of a short-term deal with Republicans to raise the debt limit and invited leaders to come Thursday to the White House to revive negotiations.

Mr. Obama said he wants to have a deal done within two weeks in order to leave some breathing room ahead of the looming Aug. 2 deadline, when the Treasury Department says the government will run up against the $14.29 trillion debt ceiling and would be forced to suspend some payments.

Some in Congress have proposed a short-term increase to give all sides more time to work out a solution, while others have said tax increases or cuts to entitlements can’t be options. Mr. Obama, though, rejected both stances.

“I’ve heard reports that there may be some in Congress who want to do just enough to make sure that America avoids defaulting in the short term, but then want to kick the can down the road when it comes to solving the larger problem of our deficit,” Mr. Obama said. “I don’t share that view.”

Moments later, White House press secretary Jay Carney said the president would not accept a deal that raises the debt limit for six months.

The president’s meeting invitation was accepted by congressional leaders, and it marks an escalation of effort on all sides.

Senate Minority Leader Mitch McConnell, Kentucky Republican, said the closed-door meeting is a chance for the president to see that some options cannot be part of a final deal, such as tax increases or more stimulus spending.

“These discussions are not about rich and poor, or an election, but they’re about making Washington take the hit and make some tough choices for a change – not the taxpayers and job creators,” Mr. McConnell said.

Republican lawmakers want deep spending cuts attached to a vote on the debt ceiling. Many Democrats want to eliminate tax loopholes and find other ways to raise more revenue.

Thursday’s summit, which is expected to include two top Democrats and Republicans each from both the House and Senate, is the latest in a series of meetings the White House and members of Congress have called to try to work out a debt deal.

Earlier negotiations with Vice President Joseph R. Biden broke down last month when Republicans said they had reached the point where Mr. Obama himself must get personally involved.

The president said Tuesday that his negotiating team made progress in discussions with lawmakers over the Independence Day weekend, and that he now thinks there are “enough people in each party” to reach a compromise. But Mr. Obama didn’t offer any new details on his position, saying he is seeking a “balanced approach” of spending cuts and tax increases.

Even as Republican leaders said they’ll attend the meeting, the patience of their party’s rank-and-file members was waning for the sort of big, negotiated deal that would likely be dropped in their laps at the end of the secret talks.

To read more, visit: http://www.washingtontimes.com/news/2011/jul/5/obama-prods-congress-on-debt-deal/


No comments yet - you can be the first!

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.