President Obama not giving up on big debt deal
President Barack Obama is pressing congressional leaders to accept a $4 trillion debt reduction deal that Republicans have rejected for its tax increases and Democrats dislike for its cuts to programs for seniors and the poor, administration officials said hours before talks resumed Sunday.
Yet they left room for negotiations on a more modest approach.
“He’s not someone to walk away from a tough fight,” White House chief of staff William Daley said. “Everyone agrees that a number around $4 trillion is the number that will … make a serious dent in our deficit.” But embedded among the tough words was rhetoric that acknowledged the “big deal’s” prospects had become uncertain at best.
“We’re going to try to get the biggest deal possible,” said Treasury Secretary Timothy Geithner.