ion year, but requiring the president to list spending cuts at least as high as increases in the debt ceiling.The senator described this as a way for Republicans to avoid being politically damaged by a worsening economy, because under the plan lawmakers could avoid voting against a debt ceiling increase.Carney called the proposal an acknowledgment by Republicans that there is no alternative to raising the debt limit. He did not reject it outright but said Mr. Obama remains focused on achieving the largest possible deficit reduction deal. The linkage that was created that tied significant deficit reduction to this deadline, was so that we could work together, roll up our sleeves and do this. Well the president is ready and willing to do that, he is willing to make compromises, he is willing to go big here, he said.McConnell spoke on the Senate floor before he and other lawmakers went to the White House for their fourth round of talks with Mr,
referer_keyword. Obama. Americans don't want tax hikes, they don't want phony spending cuts, they don't want a debt disapproval plan, and they don't want us to default on our debts. They want real cuts, and real reform, now, he said.In a CBS News television interview on Tuesday, President Obama had this response to McConnell's statement the day before that a solution to the nation's fiscal mess was unobtainable with Mr. Obama in the White House. You know, Mr. McConnell said, I think the day I was elected, that his job was to try to see me beat. I think what the American people are looking for is not that kind of partisan politics, he said.In addition to the president, his advisers, and lawmakers the White House negotiations have included Treasury Secretary Timothy Geithner, who warned of the dire consequences of a debt default on August 2.In testimony to a congressional committee on Capitol Hill on Wednesday, Federal Reserve Chairman Ben Bernanke said a default would have wide-ranging impacts. Clearly if we went so far as to default on the debt it would be a major crisis, he said,
cheap cute toms.White House spokesman Carney said Wednesday's talks would look at areas where there is agreement, or where agreement is near, as well as issues on which significant negotiations remain.Asked if Mr. Obama would rule out a very short stop gap measure, if negotiators were on the edge of a larger compromise,
plaid toms, Carney said there is enough time to get this done adding the president believes there is momentum toward achieving a significant balanced deficit reduction package. As European officials discuss how to prevent the eurozone debt crisis from spilling over into bigger economies, Italy's finance minister vowed its latest debt-cutting measure will be approved as fast as possible. Financial markets have been unsettled as debate continues on a rescue package for Greece. Italy is one of the most affected countries. Stocks and government bonds fell sharply Monday as investors cut their exposure to Italy on fears the eurozone's third-biggest economy could fall into the bloc's sovereign debt crisis.German Chancellor Angela
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