Obama to meet with Senate leaders on debt, deficit

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Posted: Jun 27, 2011 11:03 AM
Obama to meet with Senate leaders on debt, deficit
President Obama will personally interject himself into the negotiations on the federal debt and deficit on Monday, holding separate meetings in the Oval Office with Senate Minority Leader Mitch McConnell (R-Ky.) and Senate Majority Leader Harry Reid (D-Nev.)

The meetings come only days after House Majority Leader Eric Cantor (R-Va.) withdrew from a negotiating process that was led by Vice President Biden. Cantor and Republicans said Democrats kept insisting on some of kind of tax increase as part of any agreement. Cantor and many other Republicans, including McConnell, have said a deal both to reduce the budget deficit and increase the federal debt ceiling should not include any tax hikes.