U.S. President Barack Obama affirmed here Thursday that his meeting with the congressional leaders to discuss status efforts to find a balanced approach to deficit reduction was “very constructive”.
Obama said in remarks following the meeting that “everybody reconfirmed the importance of completing our work and raising the debt limit ceiling so that the full faith and credit of the United States of America is not impaired”.
He announced that he will reconvene congressional leaders on Sunday “with the expectation that, at that point, the parties will at least know where each other’s bottom lines are and will hopefully be in a position to then start engaging in the hard bargaining that’s necessary to get a deal done”.
“I want to emphasize that nothing is agreed to until everything is agreed to. And the parties are still far apart on a wide range of issues,” he remarked.
He stressed that “everybody acknowledged that we have to get this done before the hard deadline of August 2nd to make sure that America does not default for the first time on its obligations”.
“I want to thank all the leaders. I thought it was a very constructive meeting. And I will be seeing them back here on Sunday. A lot of work will be done between now and then,” Obama remarked