Budget Talks Update July 10

The White House meeting adjourned after 80 minutes without agreement over how far the parties should go in cutting the deficit over the next decade and whether tax cuts and entitlement reform should be a part of any deal.
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Daley called Boehner’s abandonment of a broad deal “unfortunate.” He added: “Everyone agrees that a number around $4 trillion is the number that will . . . make a serious dent on our deficit. It will send a statement to the world that the U.S. has gotten hold of their problems, fiscal problems, and they are moving forward.”

But Daley also said the debt limit will be raised. “By the 2nd of August, there’s no question in my mind that the leaders of America . . . will not allow the first default in the history of the country to occur,” he said. Read the whole thing at WaPo