Obama to meet Senate leaders on debt on Monday

Reuters News
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Posted: Jun 24, 2011 12:03 PM
Obama to meet Senate leaders on debt on Monday

WASHINGTON (Reuters) - President Barack Obama will hold separate talks with Senate Democratic and Republican leaders on Monday to try to resurrect stalled negotiations over raising the debt ceiling.

Obama will meet Monday morning with Senate Democratic leader Harry Reid and in the early evening that day with Senate Republican leader Mitch McConnell. Talks stalled this week when Republicans pulled out and a deal must be reached by August 2 to avoid a potential default on the country's $14.3 trillion debt.

The White House said on Friday they will "discuss the status of the negotiations to find common ground on a balanced approach to deficit reduction."

(Reporting by Alister Bull and Steve Holland)