Obama Not Interested In A Short-Term Increase To Debt Limit, Announces More Talks

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The President said Tuesday that he was not interested in allowing a short-term increase to the debt limit.

In remarks he made to the press late Tuesday afternoon, President Barack Obama said he was not interested in allowing a short-term increase to the debt limit. Instead, he is inviting Congressional leaders to the White House on Thursday for more negotiations.

“Now, I’ve heard reports that there may be some in Congress who want to do just enough to make sure that America avoids defaulting on our debt in the short term, but then wants to kick the can down the road when it comes to solving the larger problem of our deficit. I don’t share that view,” The President said.

“That’s why, even as we continue discussions today and tomorrow, I’ve asked leaders of both parties and both houses of Congress to come here to the White House on Thursday so we can build on the work that’s already been done and drive towards a final agreement.”

In a press briefing following Obama’s remarks, White House Press Secretary Jay Carney said the President remains hopeful that an agreement can be reached before the U.S. Treasury’s stated deadline for default, Aug. 2.

“(W)e have been for a long time now pleased with the progress that has been made in the negotiations thus far, concerned about the urgency that everyone needs to feel to get to a final agreement, and optimistic that a final agreement can be reached,” Carney said.

“It’s my hope that everybody is going to leave their ultimatums at the door, that we’ll all leave our political rhetoric at the door, and that we’re going to do what’s best for our economy and do what’s best for our people,” Obama said.

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