WASHINGTON (AP) — President Barack Obama hasn't given up on getting congressional leaders to accept a $4 trillion debt reduction deal that Republicans have rejected for its tax increases and Democrats dislike for its cuts to programs for seniors and the poor, administration officials said hours before talks resumed Sunday.
"He's not someone to walk away from a tough fight," presidential chief of staff William Daley said. "Everyone agrees that a number around $4 trillion is the number that will … make a serious dent in our deficit."
But House and Senate Republican leaders now say the largest of three proposals under consideration would not pass the GOP-led House because of its tax increases, an abrupt shift in negotiation over the terms of raising the nation's debt ceiling before an Aug. 2 deadline.
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