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    July 10, 2011

Obama, Congressional Leaders Meet Sunday on Debt Reduction

   VOA News
   Photo: White House
   President Barack Obama

   President Barack Obama will host congressional leaders at the White
   House Sunday for a pivotal debt reduction summit.
   The White House released a statement late Saturday saying if
   Republicans and Democrats fail to meet the fiscal challenge they will
   confirm the cynicism people have about politics in Washington.
   The Speaker of the U.S. House of Representatives, John Boehner, had
   said earlier Saturday that he is abandoning efforts to reach a
   comprehensive deal with the White House to reduce the federal deficit
   by $4 trillion over the next 10 years.
   Boehner said he told President Barack Obama that he wants to pursue a
   smaller $2-trillion deficit reduction deal since he said the "White
   House will not pursue a bigger debt reduction agreement without tax
   hikes."
   Republicans have been adamant that they will not support higher taxes.
   Instead, Boehner said negotiators should focus on deficit reductions
   identified by a bipartisan group led by Vice President Joe Biden.
   Earlier, Obama said congressional Democrats and Republicans need to
   step out of their "comfort zones" and make the political sacrifices to
   meet the nation's fiscal challenges.

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