Leaders seek debt deal before Asian markets open

[Omaha Steve]

Source: AP

By CHARLES BABINGTON

WASHINGTON (AP) - Congressional leaders planned to work on a fiercely hot Sunday in Washington to try to reach a bipartisan accord to avert a debt-ceiling crisis on Aug. 2.

Aides will be darting in and out of meetings in the usually empty Capitol. Top leaders of the House and Senate will be conferring as well. House Speaker John Boehner, R-Ohio, said he wants to announce the outlines of a plan by 4 p.m. EDT Sunday, to assure investors of the nation's financial and political stability before Asian stock markets open Monday.

Boehner met Saturday with President Barack Obama to try again to find a balance of major spending cuts and revenue increases that could win passage in the GOP-controlled House and Democratic-controlled Senate. Also at the meeting were Senate Majority leader Harry Reid, Senate Republican leader Mitch McConnell, House Democratic leader Nancy Pelosi, Treasury Secretary Tim Geithner and White House budget director Jack Lew.

The four lawmakers met later in the Capitol, without Obama or his aides. Boehner is seeking as much as $4 trillion in cuts over a decade as a condition for raising the nation's debt limit. Reid accuses GOP leaders of intransigence, suggesting the two sides still have sharp differences.


Read more: http://apnews.excite.com/article/20110724/D9OM08PO1.html

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Senate Majority Leader Harry Reid, D-Nev., holds his hand up as he whispers to House Speaker John Boehner, R-Ohio, during a photo opportunity in the House Speaker's office before a meeting on the debt limit increase on Capitol Hill in Washington on Saturday, July 23, 2011.(AP Photo/Harry Hamburg)

[Oceansaway]

1. blowing a kiss ?....nt

[no_hypocrisy]

2. It's 9:43 p.m. in Japan right now.

That gives Boehner and Cantor less than 12 hours to miraculously become rational.

I'll take the derivative that bets against that prospect.

[msongs]

3. "John we will give you 80% of what u want if you will only love us". nt

[KoKo]

4. Legislation timed to not roil the Asian Markets. Reminds me of Hank Paulson...Hair on Fire...

begging Pelosi to give him Money $$$$$$$$$$$'s because the whole world financial system would collapse. Pelosi had to do two votes...and Harry Reid was all over her to get the legislation to save the Bankster Criminals.

I wonder if this isn't just another replay.

[lunasun]

5. I have the wrong calendar -need a repug one I guess

[anamandujano]

6. "It's a good thing we have air conditioning."

"I read in the paper that it's fiercely hot in town."