Tense Negotiations Over Debt Continue

Negotiations over the national debt entered a critical phase Thursday as President Obama challenged congressional leaders to embrace an ambitious but politically painful strategy to raise revenue and make changes to popular federal retirement programs.

Top Democrats were open to the idea, and House Minority Leader Nancy Pelosi (D-Calif.) pledged her “full cooperation” after meeting with Obama and other senior lawmakers at the White House. Republicans were more skeptical, with one prominent exception — House Speaker John A. Boehner (R-Ohio).

Boehner enthusiastically endorsed Obama’s call for a far-reaching plan. Later at the Capitol, Boehner made his own pitch to reluctant Senate Republicans, arguing in a closed-door luncheon that securing the nation’s economic future requires bold action. Boehner also said he expects a deal to come together quickly — or to collapse under the weight of partisan resistance.

“He is always an optimistic man, and he was optimistic today,” said freshman Sen. Roy Blunt (R-Mo.), who served for three years under Boehner in House leadership. “I think if they can get there, they’ll get there pretty quickly — or they won’t get there.”

Read the rest here.