The Independent
Obama summons party leaders to stave off US debt default crisis
Republicans insist on cuts as part of deal to let borrowing break $14 trillion ceiling
By Rupert Cornwell in Washington
With a potential US debt default less than four weeks away, President Barack Obama has summoned Congressional leaders to the White House today in a new effort to break the deadlock over the budget deficit reduction package that Republicans insist must accompany an increase in the country's borrowing ceiling. But the prospects of an early deal still look dim. House Speaker John Boehner, the top Republican on Capitol Hill, warned that the discussions "will be fruitless unless the President recognises economic and legislative reality", while Jay Carney, the White House spokesman, told reporters yesterday that this latest debt summit was only a start, and that further meetings would be needed.
For the rest of the article and to view graphic:
http://www.independent.co.uk/news/world/americas/obama-summons-party-leaders-to-stave-off-us-debt-default-crisis-2308108.html
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