Obama: 'Parties are still far apart' on debt talks

President Obama is asking congressional leaders and staffers to work on budget negotiations over the weekend and return to the White House on Sunday to try to hammer out a compromise. 

“The parties are still far apart on a wide range of issues,” Obama told reporters after a meeting with congressional leaders at the White House on Thursday.

“I will reconvence congressional leaders here on Sunday with the expectation, at that point, the parties will at least know where each other's bottom lines are and hopefully… [be able to begin] engaging in the hard bargaining.”

Obama assured that a deal to raise the U.S. debt ceiling will be reached by Aug. 2, the deadline by which U.S. Treasury officials say the government could default on it's debt without congressional action.  

“Everybody acknowledged we have to get this done before the hard deadline of Aug. 2,” Obama said. The president has previously warned that Republicans might block a vote on raising the debt ceiling if they don't get what they want out of deficit-reduction negotiations.

“People were frank,” he said. “Everybody reconfirmed the importance of completing our work.”

Beltway ConfidentialCongressObamaUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Gov. Gavin Newsom gave an update on COVID-19 cases on Thursday Nov. 3, 2020. (Examiner screenshot)
Newsom announces statewide stay-at-home order tied to availability of hospital beds

Order will take effect in Bay Area when intensive care unit capacity falls below 15 percent

Mayor London Breed said “I need to hold myself to a higher standard” in response to criticism of a recent meal at a Napa Valley restaurant. (Kevin N. Hume/S.F. Examiner)
Breed calls criticism for French Laundry trip ‘fair’

Mayor said she regrets that actions ‘distracted’ from public health message as COVID-19 cases rise

City Administrator Naomi Kelly said Wednesday that the allegations against her husband were “based on the word of a liar.” (Kevin N. Hume/S.F. Examiner)
City Administrator Naomi Kelly takes leave after feds charge husband

High-ranking official under scrutiny over 2016 China trip

High school seniors Shayla and Kayla Bryant receive guidance from 100% College Prep around college admissions. (Courtesy photo)
High school seniors juggling college applications and distance learning

In a final year of high school spent largely online, seniors are… Continue reading

Lyft, owner of the Bay Wheels bikeshare program, stands to receive more than $300,000 in a legal settlement with The City. (Kevin N. Hume/S.F. Examiner)
Supervisors to weigh $330,000 settlement with Lyft over bikeshare dispute

If approved, deal would resolve an 18-month long legal battle over San Francisco’s e-bike market

Most Read