Obama May Summon Lawmakers to Camp David to Salvage Debt Talks

[struggle4progress]

July 14 (Bloomberg) -- President Barack Obama may summon congressional leaders to a Camp David summit this weekend after the latest round of White House negotiations on the deficit ended on a tense note and Moody’s Investors Service warned the stalemate could jeopardize the U.S.’s credit rating.

Obama told the lawmakers they have until tomorrow to decide whether they can reach a deal to cut the deficit or settle for a way to raise the $14.3 trillion debt ceiling before U.S. borrowing authority expires Aug. 2, two Democratic officials said ...

Federal Reserve Chairman Ben S. Bernanke told the House Financial Services Committee yesterday that failure to raise the debt limit would lead to a “huge financial calamity” that could add to unemployment. Unless the debt ceiling is raised, he said, the economy could be in greater peril than when Lehman Brothers Holdings Inc. went bankrupt in September 2008 ...

A final decision on a possible Camp David retreat in the Maryland mountains hasn’t been made, said the people, who requested anonymity ...

http://www.washingtonpost.com/business/obama-may-summon-lawmakers-to-camp-david-to-salvage-debt-talks/2011/07/14/gIQAPKXyDI_story.html

[liberal N proud]

1. They don't deserve a trip to a spot considered a retreat

The President did the right thing walking out on them yesterday.

[CakeGrrl]

2. That was a rumor confirmed false by Jay Carney at today's WH presser. -nt

[struggle4progress]

3. Thanks:

... Obama considered inviting the lawmakers to Camp David for a weekend negotiating session, according to two people familiar with the matter. Obama press secretary Jay Carney said today that a Camp David summit “is not currently planned,” and that meetings in the coming days are planned for the White House ...
Democrats Consider Adding Spending Cuts to McConnell’s Debt-Reduction Plan
By Margaret Talev and Laura Litvan -
http://www.bloomberg.com/news/2011-07-14/democrats-consider-adding-spending-cuts-to-mcconnell-s-debt-reduction-plan.html

[Fire1]

5. Good! That was a bad idea. n/t

[pscot]

4. Why?

[polichick]

6. Hope he doesn't do that - why pollute one of the few places he and the family...

...can go to get away from everything in private?