June 28, 2011

Obama Enters Debt Talks

Kane & Helderman, Washington Post

AP Photo

President Obama formally entered debt talks Monday with a pair of Oval Office meetings with Senate leaders, hoping that face-to-face talks could set the stage for detailed negotiations seeking more than $2 trillion in federal savings in exchange for continued Treasury borrowing to finance government operations.

With just five weeks to go before the federal government would begin defaulting on some of its debts, Obama hosted Senate Majority Leader Harry M. Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) in separate hour-long meetings.

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Related Topics: budget, Obama administration


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