Tonight: WaPo...Obama, congressional leaders don’t make headway on debt limit

[spanone]

Talks between President Obama and congressional leaders Sunday evening failed to break a partisan stalemate over how to raise the federal borrowing limit, leaving the politically charged negotiations in limbo with three weeks remaining before the administration says the country will begin to default.

Two of President Obama’s top advisers had said earlier in the day that he would continue to press for a far-reaching, $4 trillion deal to cut the deficit, despite new opposition from Republican leaders to such a compromise.

The White House meeting adjourned after 80 minutes without agreement over how far the parties should go in cutting the deficit over the next decade and whether tax cuts and entitlement reform should be a part of any deal.

White House Chief of Staff William M. Daley and Treasury Secretary Timothy F. Geithner said on the Sunday political talk shows that Obama still believes in a deal that would reduce the deficit through a combination of spending cuts, entitlement reforms and tax increases.

http://www.washingtonpost.com/business/economy/obama-will-still-seek-a-4-trillion-debt-deal-despite-gop-opposition-aides-say/2011/07/10/gIQAOKq86H_story.html?hpid=z1

[gateley]

1. Jeez - they can't even decide how MUCH to cut, much less how

to achieve it.

We are screwn.

[spanone]

2. this is getting interesting. wall street may start freaking out.

[gateley]

4. I haven't paid attention to the Wall Street concerns, primarily because

I figured I wouldn't understand it all.

But if Wall Street comes down on these guys, we might see some movement!

Why did Obama decide to up the ante, anyway? Wasn't the Biden group targeting a different amount?

Puzzling. Again, I don't understand it all, but it seems counterproductive to raise the stakes if you can't get agreement on a lesser amount. OR, maybe he thought that might bring the Republicans around, but now it sounds as though they want to scale back the goal, too.

My head's a'spinnin'!

[Raine]

3. Suprise, suprise, suprise

like anything was going to be resolved, give me a break :eyes: but go ahead just keep on playing your games. :puke:

[gateley]

5. Are you talking to spanone and me, or to the players in DC? nt

[Raine]

7. The game players in DC. nt

[gateley]

8. Sorry - getting a little sensitive lately. I should have known that's what you meant.

:pals:

[Raine]

9. Yeah I know how you feel

back at ya. :pals:

[liberal N proud]

6. When one side has to do all the giving, it does not go so well

The fucking republicans are using this to destroy the economy and in the process, kill Obama's chances at winning in 2012.

Obama has a loaded gun to his head and the GOP has the trigger.