The Point: The President Said "No."
Email from Mitch McConnell's office:
A note from our office...
Just wanted to get you up to speed on the debt talks. There is a lot of conflicting and confusing information this morning but here are the facts from the weekend: The Senate Majority Leader, Speaker Boehner, and Leader McConnell worked through the weekend on a bipartisan product that would lift the debt ceiling in exchange for spending cuts exceeding the increase that would last into next year. It would be a two-step process that would rely on a joint committee of Congress to produce, and the House and Senate to pass, further savings in order to lift the debt ceiling for the remainder of 2012. All Leaders agreed on the framework and last night the Senate Majority Leader and Leader Pelosi presented the plan to the President. The President said no. Two news excerpts below:
AS THE WASHINGTON POST REPORTED THIS MORNING:
“Less than two hours later, Reid carried the plan to the White House, where it appeared to meet with the president’s disapproval. Afterward, a White House official said the president “received an update on the state of negotiations on the Hill from Leader Pelosi and Leader Reid, and the Leaders and the president reiterated our opposition to a short-term debt limit increase.” But a Republican aide close to the talks said Boehner, Reid and McConnell “all agreed on the general framework of a two-part plan.” When Reid took the bipartisan plan to the White House, the aide said, “the president said no.” (“Debt-limit compromise elusive as separate strategies take shape in House, Senate,” Washington Post, 07/25/11)
