Obama Will Meet Again With Leaders Of Both Parties To Promote Negotiations On Debt Limit.

2011/7/12 9:27:00 43

Obama Leader Of The Two Party Debt Limit Talks

A Democratic aide said the president of the United States

Obama

(Barack Obam) will meet again with the leaders of the Democratic Party and the Republican Party on Tuesday (12) to push forward the negotiations between the two parties on the US government's borrowing ceiling and reducing the long-term deficit. This is the third meeting between Obama and the leaders of the two parties in recent years.

The aide said the meeting would be held at 10 a.m. Eastern time (22 p.m. Beijing time 12).

Another aide called Obama the same.

Leaders of the two parties

The meeting will continue until agreement is reached.

Democratic and Republican leaders of the two parties met on Sunday (10), but the negotiations quickly ended because the differences between the two sides in tax increases were stranded and the meeting ended in haste.

Earlier, Obama said at a news conference that he would convene a meeting of the leaders of the two parties every day until the two sides reached agreement on raising the debt limit.

He also said he would reject a deadline of less than 180 days.

Interim agreement

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The deadline for the US government borrowing limit is August 2nd. If the Congress fails to reach an agreement to raise the current debt ceiling, the US government will default on its debt.

At present, the two sides have reached a deadlock on the issue of Obama's insisting on raising taxes and reducing expenses simultaneously.

Obama said temporarily raising the government's debt ceiling is an irresponsible delay.

In the process of reducing the deficit, the United States needs to emphasize "balance". The government should avoid fiscal habits that have eaten the grain and should not sacrifice investment in key areas to help the US economic recovery.