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  • White House: 'Significant' debt deal possible (Dems propose $400-600 billion in new taxes)

    06/27/2011 1:45:09 PM PDT · by quesney · 244 replies
    WASHINGTON (AP) — The White House said Monday that a "significant" deal with Republicans on cutting government spending and raising the nation's debt limit is still possible, even as the administration hardened its stance on the need for increased tax revenue to be part of any agreement. President Barack Obama made his first direct foray into the deficit negotiations Monday. He met with Senate Majority Leader Harry Reid in the Oval Office for about 30 minutes Monday morning, and planned to meet with Republican Sen. Mitch McConnell in the early evening. White House spokesman Jay Carney said Obama's meeting with...