Obama, bipartisan leaders to meet again Saturday - 13 WTHR Indianapolis

Obama, bipartisan leaders to meet again Saturday

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President Obama speaks to reporters Friday. President Obama speaks to reporters Friday.
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WASHINGTON (AP) - President Barack Obama has asked bipartisan congressional leaders to meet at the White House on Saturday morning to discuss the way forward on a deal to boost the nation's borrowing authority.

Obama called for the meeting after House Speaker John Boehner told the president he was walking away from the talk.

Obama says he will meet with Boehner, Senate Republican leader Mitch McConnell, House Democratic leader Nancy Pelosi and Senate Democratic leader Harry Reid. Obama says time is running out to reach a deal by Aug. 2 to avert a default.

Boehner says he's confident congressional leaders will be able to come together to avoid a government default in the wake of the collapse on budget talks with the president.

Boehner accused Obama of "moving the goal posts" by demanding $400 billion in tax increases on top of about $800 billion in revenues that would have been reaped through a comprehensive rewrite of the tax code.

The Ohio Republican said he'll be attending a White House meeting Saturday morning aimed at coming up with a fallback plan to raise the government's borrowing cap - but he said spending cuts of a commensurate size will still have to be attached.

(Copyright © 2011 The Associated Press. All rights reserved. This story may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.)

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