Obama: Democrats, Republicans Will Work All Weekend to Reach Debt Deal
“There is going to be pain involved politically,” President Obama said of the negotiations to reach a debt deal.
Emerging from what he described as “a very constructive meeting” with congressional leaders, President Obama today said his staff and theirs will be working through the weekend to come up with a budget compromise “so the full faith and credit of the United States is not impaired.”
In a hastily scheduled statement at the White House briefing room, Obama said the bipartisan group agreed that a deal to raise the debt ceiling must be reached soon. “Everybody acknowledged that we have to get this done before the hard deadline of Aug. 2,” he said. And he said there also consensus that “there is going to be pain involved politically.”
Meanwhile, Boehner says that he sees a “50-50 chance” of a deal being reached.
UPDATE: Ace has more:
So is Obama moving at all? Based on this made-up number of $4 trillion, no, I see no movement.
But Boehner thinks they might be close. Peter King says it’s better than 50-50.
Ed speculates that there might be some deliberate expectations-raising going on here to pressure the Democrats to come to terms, an attempt to maybe change the Narrative about who exactly it is who won’t compromise.
Alas, I haven’t seen a lot of that sort of gamesmanship from Boehner. . . .
Here’s something. Obama says that not reaching a deal will panic the markets.
But why will it?
Because Obama and his cronies are putting out the word every single day that no deal means a default.
And who, meanwhile, is attempting to reassure markets that a failure to broker a deal does not mean a default?
So yes, the market will panic, because they’re listening to the man who is deliberately attempting to panic them and possibly collapse the world economy… as a negotiating strategy.
Plenty more links in Ace’s entry, so follow it back.