Obama Hosts Congressional Members After Talks Get Stuck on Tax Increases, Entitlement Spending

[WestVirginiaRebel]

Fox News:

As the Treasury Department announced its collecting more tax revenue but still not enough to reduce the federal budget deficit below $1.4 trillion for the year, President Obama is meeting with congressional Democrats to develop a long-term approach to cutting the deficit.

The get-together Wednesday on White House grounds with the entire Democratic caucus is the first of two gatherings the president has called as talks stall over where to find compromise in reducing the budget. Obama is scheduled to meet Thursday with congressional Republicans.

Obama's involvement adds a sense of urgency to the discussions as the clock ticks for Congress to increase the nation's credit line before defaulting on its debt. The Aug. 2 deadline to increase the debt limit has been pushed back already by Treasury Secretary Tim Geithner, who shifted around resources to prevent the U.S. from hitting its debt ceiling and potentially losing its global credit rating.

Vice President Biden had been the administration's point man on budget talks and on several occasions had huddled with negotiators from the House and Senate to find ways to reduce spending by identifying domestic programs that both sides agree can be cut.

But after meeting with congressional negotiators for two hours on Tuesday, Biden said the top House and Senate leaders may have to get involved to close any deal.

"Whether we get to the finish line with this group is another question," he said. Biden is scheduled to meet with negotiators again on Thursday.
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Gee, you'd think with the AP giving him a 60 percent approval rating he'd be able to get things done...