No U.S. debt deal; Obama meeting with Democrats [latest Sun. update]

Market Watch ^ | July 24, 2011 | Deborah Levine

[La Enchiladita]

NEW YORK (MarketWatch) — With no apparent deal to increase the U.S. debt limit in sight, President Barack Obama will be meeting with Congressional leaders of his own party later Sunday.

Throughout the weekend, lawmakers and officials expressed optimism that a deal would be done before trading in major Asian markets began to avoid the possible roiling of financial markets.

A White House spokesman said Obama would meet with House Democratic Leader Nancy Pelosi and Senate Majority Leader Harry Reid in the Oval Office at 6 p.m. Eastern.

[La Enchiladita]

House Speaker John Boehner had scheduled a 4:30 p.m. conference call with his Republican colleagues. A 4 p.m. Eastern deadline set Saturday by Boehner for a report, on progress on a compromise plan to raise the nation’s $14.2 trillion debt limit to avert a potential Aug. 2 default, passed with no word.

I wonder what they talk about at these meetings, since they seem to get nowhere.

Heh.

[Sacajaweau]

Obama will meet with ONLY members of his own party...Sounds like that circa 1940’s German dude...what’s his name??

[La Enchiladita]

WSJ Live Blog: The U.S. Debt Battle

[Nervous Tick]

I wonder what they talk about at these meetings, since they seem to get nowhere.

No talk. Just dream...

[Parley Baer]

“Obama would meet with House Democratic Leader Nancy Pelosi and Senate Majority Leader Harry Reid”

Now that really gives one confidence in settling the debt issue. NOT! Three of the biggest spenders in the nations history.

[Pebcak]

I fear what he is going to talk about with Reid - is absolute assurance that he will block any impeachment trial should Obama raise the debt limit by Executive order.

This probably has been his fall back position all along.

[La Enchiladita]

That looks like an opium den, lol.

I note that Boehner drinks a lot of tea* at those meetings and Ubama chews gum. I wonder if he pops the gum when he chews it.

*(secret signal to the Tea Party, hmmmmm??)

[Diggity]

Screw the Reps if they cave in on this. No increase in debt ceiling. Enough is enough. Boehner and McConnel both need to go.

[McGruff]

The World hasn’t ended yet?

[Nervous Tick]

>> That looks like an opium den

So? You got a BETTER explanation for what’s going on? :-)

[oldbrowser]

“Obama would meet with House Democratic Leader Nancy Pelosi and Senate Majority Leader Harry Reid”

If they really cared about the country, all three would resign immediately.

[La Enchiladita]

The World hasn’t ended yet?

Candor7 is the expert on that topic, I believe. Come in, Candor....

[rawhide]

Actually, some legal pundits claim under the 14th Admendment, obamma has all the authority he needs to raise the debt ceiling without Congress’s approval. I’m sure it would be challenged in court, after the deed is done. obamma has to be thinking about doing this, with claims he is saving the nation and it is for the children, and unions.

[camerongood210]

I think the Asian markets open in 17 minutes. I'll be keeping a distant eye on the Nikkei ticker.

[camerongood210]

Sorry. Looks like the Nikkei won’t open for another 2+ hours.

[Pebcak]

Exactly.

[tomkat]

Japan = UTC +9

[Evil Slayer]

“Obama would meet with House Democratic Leader Nancy Pelosi and Senate Majority Leader Harry Reid”

I thought he was specifically told to let Congress work on the bills and he was to stay out of it. This kenyan reminds me of a pesky fly at a picnic.

[Red_Devil 232]

Boehner made a big mistake by announcing he was going to have and propose a plan before the Asian Markets opened today. Looks like he did not have all the Republican caucus with him at the end of the day.

Now obambi and pelosi and reid will meet and come out with a plan this evening to make the Repubs look like fools!

[lara]

Boehner should bring a 12 pk. of Rush's “Two if by Tea” and pass it around. I think obama would really appreciate the gesture. : )