No Deal Yet After Sunday Debt Limit Meeting
President Obama at debt ceiling meeting with congressional leaders. Photo by Joshua Roberts/Bloomberg via Getty Images
Congressional leaders left the White House Sunday evening without news of a deal to reduce the federal deficit and raise the debt limit after meeting with President Obama for the second time on the issue.
White House communications director Dan Pfeiffer (@pfeiffer44) tweeted that congressional leaders will return to the White House for more talks on Monday after President Obama’s planned morning press conference.
Eight legislators, including House Speaker John Boehner, R-Ohio, and Senate Minority Leader Mitch McConnell, R-Ky., met with President Obama for about 75 minutes.
Appearing on NBC’s “Meet the Press” earlier in the day, Treasury Secretary Timothy Geithner affirmed that Aug. 2 is the final deadline for congressional action to raise the debt limit and avoid default.
“There is no credible way to give Congress more time. There’s no constitutional option. There’s no delay option. There’s not creative financial option. They have to act by the 2nd,” Geithner said.
The meeting came one day after Boehner called President Obama at Camp David to tell him that he would not be able to pursue a large $4 trillion deficit reduction package that included nearly $1 trillion in new revenues.
President Obama and Mr. Boehner emerged from a White House meeting on Thursday with a shared goal of pursuing a large multi-year deal. House Majority Leader Eric Cantor and Senate Minority Whip Jon Kyl dissented from Boehner’s position and expressed a preference to pursue the $2 trillion worth of spending cuts and savings identified in the talks led by Vice President Biden that broke down two weeks ago when Cantor declared an impasse.
We’ll have more on the Rundown on Monday.