Tags: Barack Obama | Economic- Crisis | Debt Showdown | Obama

Obama: Debt Parley Constructive, to Meet Again Sunday

Thursday, 07 Jul 2011 01:17 PM

WASHINGTON — President Barack Obama says lawmakers of both parties agree on the importance of raising the debt limit by Aug. 2, and he will reconvene them Sunday to get down to the hard bargaining necessary to get a deal done.

Obama spoke at the White House Thursday after meeting with the top eight Republican and Democratic lawmakers in the House of Representatives and the Senate.

He said it was a constructive and frank meeting and the leaders brought a spirit of compromise and of wanting to solve problems on behalf of the American people. But he said the parties are still far apart on a wide range of issues.

Officials are seeking to cut trillions from the deficit to reach agreement on raising the nation's borrowing limit or face unprecedented default.

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