Obama Walks Out Of Debt Talks With GOP

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A frustrated Obama reportedly walked out of debt negotiations.President Barack Obama walked out of a deficit meeting with high-ranking Republican lawmakers.

Fox News reports that sources said Obama dressed down House Majority Leader Eric Cantor (R-Va.), saying, “Don’t call my bluff.”

The two sides have been discussing a deal that would raise the debt ceiling by Aug. 2, when Treasury Secretary Timothy Geithner says the United States will default on its obligations if no compromise is made.

Republicans have said that they would only raise the debt ceiling if equal amounts of spending cuts are made. In addition, they have adamantly refused to allow tax hikes to be considered, something that apparently frustrated Obama.

“I know why he lost his temper,” Cantor said. “He’s frustrated. We’re all frustrated.”

Other GOP leaders have also expressed their frustration with the talks. Speaker of the House John Boehner (R-Ohio) has said that negotiating with the Obama Administration is “like dealing with Jell-O.”

Republicans have favored a short-term deal that would provide an extension of the debt ceiling, reports USA Today. However, Obama has so far been determined to get a long-term deal done.

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