Tempers Flare as Debt Talks Take Dramatic Turn

The meeting began normally enough, with Obama welcoming the eight congressional leaders from both parties to the White House. He made opening remarks and then called on Cantor. Cantor griped that the number figure in cuts has been shrinking since last week. Last Thursday – when Obama and House Speaker John Boehner proposed a grand bargain that Cantor helped bring down two days later in the face of a revolt from the right – the President had offered $1.7 trillion in savings, Cantor said, as a baseline of agreement.

Read more: http://swampland.time.com/2011/07/14/obama-vs-cantor-tempers-flare-as-debt-ceiling-negotiations-take-a-dramatic-turn/#ixzz1S5Rqgrel