Still No Deal on the Debt Ceiling or Deficit Reduction Framework
July 11, 2011
No deficit deal reached at weekend White House meeting; negotiations to resume today
A meeting on Sunday, July 10, between President Obama and the bipartisan, bicameral leadership of Congress lasted just 75 minutes, with no agreement on deficit reduction reached.
The talks were dealt a setback on Saturday when House Speaker John Boehner (R-OH) told the president that he would not accept a large package that included tax hikes. Boehner reportedly told the group at Sunday’s meeting that he believes a smaller package based on the work of the group led by Vice President Biden is the most viable option at this time for moving forward, instead of the broader $4 trillion deficit-reduction package favored by the president and Democratic leaders.
Negotiations are scheduled to resume Monday, July 11, following President Obama’s declaration that a final deal must be reached within the next 10 days. Sources: Congress Daily, Congressional Quarterly, The Hill, Roll Call
Obama rules out short-term deal on debt ceiling
President Obama said Monday morning that he would not consider potential stopgap measures to temporarily avert the debt-ceiling crisis, saying "that is just not an acceptable approach."
Obama spoke after Republicans rejected a deficit-reduction framework that would raise taxes as well as cut entitlements. Obama said during a White House news conference, "I continue to push congressional leaders for the largest possible deal,” adding that "I will not sign" a short-term extension. Source: The Washington Post
Contact Congress
Please help us continue to let Congress know that it cannot balance the budget on the backs of the most vulnerable – the men, women and children that we serve.
Click here to Contact your elected officials: http://support.volunteersofamerica.org/site/Advocacy?pagename=homepage&id=177
