President Barack Obama is refusing to accept a piecemeal approach to raising the nation's borrowing limit while kicking the can down the road on reducing the spiraling deficit.
"I've heard reports that maybe some in Congress want to do just enough to make sure America doesn't default in the short term," he said, rejecting the proposition.
"I believe that right now we have a unique opportunity to do something great," he said.
Citing some progress even though "real differences" remain on raising the debt ceiling, Obama on Tuesday invited leaders of Congress to the White House on Thursday to continue negotiations on a long-term deficit deal.
Reaching a compromise, Obama said, would require both sides to move beyond their comfort zones. He said that entitlements, defense spending and taxes need to be a part of any deal.
Here's the problem with that. Any deal that involves entitlements will have Republicans pounding the President and Democrats on the air screaming DEMOCRATS CUT YOUR MEDICARE AND SOCIAL SECURITY just like in 2010, and it is a battle the Democrats will lose and lose badly. I'm not sure why Obama is bound and determined to do this, but there you are.
I'm far more concerned he believes that the Republicans will in any way negotiate in good faith.
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