Obama: We 'need to' get a debt deal in 10 days

AP News
Posted: Jul 10, 2011 6:21 PM
Obama: We 'need to' get a debt deal in 10 days

President Barack Obama says he and Congress "need to" agree on a budget deal in 10 days in order to meet an Aug. 2 deadline to increase the nation's debt ceiling and avoid a potentially calamitous government default.

Obama spoke as he and the eight top House and Senate leaders assembled at the White House for a rare Sunday session to negotiate the terms of a deficit reduction package.

The meeting came a day after House Speaker John Boehner abandoned efforts to bargain for a $4 trillion, 10-year debt trimming agreement. Boehner said a smaller deal that would reduce the deficit by about $2.4 trillion over the next decade was more realistic.

Obama aides said Sunday the president would still push for as big a package as possible.