"Today was the most tense meeting of the week." -- POTUS wants decision on debt ceiling by Friday.

[jefferson_dem]

GOP aide close to talks: "Today was the most tense meeting of the week.." pointedly, "we're not doing that anymore."

http://twitter.com/#!/ChadPergram/statuses/91281119198183424

Amidst discussions of credit ratings agency Moody's putting the U.S. on review for downgrade, President Obama told congressional leaders today that by Friday they all have to decide what they’re doing: a compromise package to reduce the deficit, or if there’s no willingness to compromise, some other way to raise the debt ceiling and avoid defaulting.

The president made the declaration at today's deficit reduction meeting in the Cabinet Room, which began at 4:24 p.m. ET and ended at 6:16 p.m.

A Democrat familiar with the negotiations, said that the group went through discretionary and mandatory spending cuts – more than $1 trillion over 10 years - that had been discussed in the earlier talks led by Vice President Joe Biden.

The group agreed to return to the table tomorrow afternoon to talk about mechanisms for those cuts -- firewalls and triggers -- and possibly to address health care spending (Medicare and Medicaid) and a possible extension of the payroll tax cut

Republicans raised the notion of a short-term fix again, which President Obama took off the table again.

http://blogs.abcnews.com/thenote/2011/07/president-obama-we-need-to-decide-by-friday-if-were-working-on-a-compromise-deficit-reduction-bill-o.html

[tosh]

1. I agree 100% with the Pres. on no short-term fix...

this is sucking up all of their time and attention. Other needs must be met.

[jefferson_dem]

2. "Cantor: (The president) said 'don't call my bluff. I'm going to the American people on this."

:popcorn:

[OHdem10]

4. Why the President and Democrats have not gone to the American

People, I will never understand.

[vaberella]

6. Obama did a few times to inform them of what's going on and said Republicans are messing around.

However, this will push Repubs over the edge.

[vaberella]

5. Obama seriously said that? You need to give it, it's own thread. n/t

[jefferson_dem]

7. This was what is being reportedly said *by Cantor*, according to a reliable source on the Hill.

:)

I like.

[Zenlitened]

8. Now THAT is sweet music to me ears:

(The president) said 'don't call my bluff. I'm going to the American people on this."

Mr. President, please go to the American people anyway, whether they call your bluff or not.

[jaxx]

3. I guess they had better realize the President means get it done.

K&R

[Fire1]

9. When will they learn. n/t