Talks get tense
July 14th, 2011
07:27 AM ET

Talks get tense

Washington (CNN) - A fifth session of talks in five days is set for Thursday to head off a possible government default.

Wednesday's session ended on a tense note with House Majority Leader Eric Cantor and President Barack Obama squaring off over the Republican's call for a short-term extension of the federal debt ceiling.

At one point, Obama said the political wrangling confirmed what the public considers to be the worst of Washington, according to Democratic sources familiar with the talks who spoke on condition of not being identified.

Multiple sources, also speaking on condition of anonymity, said Obama told the gathering that "this could bring my presidency down," referring to his pledge to veto any short-term extension of the debt ceiling. Sources say he vowed, "I will not yield on this."

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soundoff (23 Responses)
  1. Dean

    The small-mindedness of Obama becomes apparent when he becomes frustrated. About the only thing he's qualified to run is a Churches Fried Chicken stand...as an assistant.

    July 14, 2011 at 8:10 am |
    • jean2009

      And obviously you wouldn't even qualify for that job>

      July 14, 2011 at 10:46 am |
      • John

        Wow Jean – we agree two days in a row...

        July 14, 2011 at 11:14 am |
    • grown-up

      Dean and John, I suppose the two of you don't read and are horribly bad at math. Stop listening to sound bites and rhetoric and do some research. Republicans always espouse their patriotism and routinely run the country in to the ground. This time they are doing that by using even the most mundane to extract unreasonable and damaging promises from the Dems. The debt ceiling has been raised 76 times in the last century, only now with a black president in office is this an issue. It was raised under Bush. And your fried chicken comment is as ignorant as you are. Get over it...you lost!

      July 14, 2011 at 6:02 pm |
      • John

        Hey "growup" – Stop living in the past. Also, go back and read about when Bush was trying to raise the debt celing and EVERY DEMOCRAT, including what you term as "the black president" and Hillary, VOTED AGAINST IT. Do you think it was because Bush was white? You freaking racist. A definite message was sent during the last election. You lost.
        Answer me this, if this country really has no money being wasted by this governmnet that can be "found" why are we spending 200 million dollars on military bands? That is just one example of hundreds I could have listed. It is time to force these losers, Dems and Repubs, to cut the crap.
        Also, if "the black president" (as you call him) has no money to pay seniors for SS where is the money going that is taken from my check and every other working AMerican EVERY WEEK FOR FICA? Doesn't this money get turned into SS PAYMENTS EVERY WEEK?
        Stop drinking the cool-aid...

        July 15, 2011 at 6:55 am |
    • kefa34

      happy is the man that findeth wisdom and the man that getteth understanding
      we pray that jesus wash your mind with the holy spirit and your mouth .
      '

      July 14, 2011 at 8:00 pm |
    • kefa34

      Dean How Small Of You How Dare You Speak With Such Evil
      May JESUS Have Mercy On You You Are The AMERICAN Of The
      Past .Wow Wow wow
      again that is our commanded and cheif how dare you
      I like the dreams of the future better
      than the history of the past.

      July 14, 2011 at 8:13 pm |
      • Dean

        Thanks for including your I.Q. in your name.

        July 19, 2011 at 9:06 am |
    • hawa turay

      your a racist

      July 20, 2011 at 2:00 pm |
  2. John

    "this could bring my presidency down" is what is foremost on Obama's mind. So the Dems first priority is getting "O" re-elected. The repubs first priority is getting "O" out of the WH. The last election called for less spending, more private sector jobs and smaller governmnet. It is way past time these people realized this. The way they are acting, they all need to be voted out.

    July 14, 2011 at 8:42 am |
    • John

      BTW, from what we have heard on the news outlets – these people have met, as a group, 8 hours to try to fix this problem. Two hours yesterday and 1.5 hours the other 4 days. WTF?

      July 14, 2011 at 8:55 am |
  3. jean2009

    "Taxes for the top 2% of the country need to be raised 3.9% to pay for the 6 trillion incurred from 2000-2006 for the following:
    unfunded war in Iraq
    unfunded war in Afghanistan
    unfunded medicare part D
    unfunded tax cuts from 2001-2010.

    Let the spending cuts pay for Obama's 3 trillion, and the tax increase for W's 6 trillion."
    Makes sense to me.

    July 14, 2011 at 5:04 pm |
    • John

      Let's see – 6 trillion in 8 years – that included 911 and the war related . 3 Trillion in 30 months – that included bailouts, stimulas that didn't work, take-over of HC and the auto industry, holding od 750,000 homes, 9%+ unemployment – need I go on?

      July 15, 2011 at 7:01 am |
      • jean2009

        @ John. The stimulus has worked:
        Without the stimulus unemployment would no doubt currently stand at 25% or higher.
        An American auto manufacturing industry would not exist.
        The Health Insurance Reform Act of 2010 was not a government take over of health care.
        Requiring all people (plus helping some people) to fund the purchase of their own health insurance is not anyway near to a government run system such as the single-payer systems found in European countries, Canada, or other civilized industrial countries. Actually some of those complaining the most about the insurance mandate are those most able to purchase insurance....those healthy souls who think they don't need it until they are broad-sided by a truck.

        Yes, 9/11 happened (possibly due to not taking the threat and advice given seriously): but invading Iraq on a bogus WMD report was a costly $3 Trillion and continuing unnecessary undertaking.

        Below from The Washington Post :The true cost of the Iraq War:$3 Trillion and Beyond dated 9/5/2010.

        "Federal Debt

        There is no question that the Iraq war added substantially to the federal debt. This was the first time in American history that the government cut taxes as it went to war. The result: a war completely funded by borrowing. U.S. debt soared from $6.4 trillion in March 2003 to $10 trillion in 2008 (before the financial crisis); at least a quarter of that increase is directly attributable to the war. And that doesn't include future health care and disability payments for veterans, which will add another half-trillion dollars to the debt.

        As a result of two costly wars funded by debt, our fiscal house was in dismal shape even before the financial crisis - and those fiscal woes compounded the downturn. "

        Please explain, just what kind of moron cuts funding for the government then goes to war on borrowed funds?

        July 17, 2011 at 11:49 am |
      • Jay in NC

        To date the Iraq war has cost $787 billion. Not the trillions you claim.

        source: http://costofwar.com/en/

        Also your claim that "An American auto manufacturing industry would not exist." is strange. Are you truly saying that Ford Motor Co. would not exist? During the bailout Ford's share of car sales climbed. No doubt they would have expanded. It is also simple to suggest that the other manufactures would have closed completely. Non gov. companies have a way of shedding debt, inverters would have revamped the industry and it would have emerged stronger.

        You go on to ask "Please explain, just what kind of moron cuts funding for the government then goes to war on borrowed funds?" Well, if this was such an issue why did not Barry and the Democrat controlled congress correct this issue? He did not, he continued to borrow money to fund his wars. Never recalled hearing that Barry fully funded the Afghanistan surge. Hypocrites.

        July 17, 2011 at 1:05 pm |
  4. SPENDMO

    Don't raise the debt ceiling, bring it on! Stocks and pensions will go back to 2008 levels, grandma will be kicked out into the streets and starve. No Air Traffic Controllers, Military, Haliburton, Boeing, Farm Subsidies, Government Contractors, Government Services, Prisons, and Human Services. If you thought the Tea Party was angry, the Coffee Breakers will raise enough Hell to reelect Obama. DEBAGEDDON....

    July 14, 2011 at 6:44 pm |
    • John

      "grandma kicked into the streets" – if you worked you would see that thing called FICA listed on your deductions every week – that pays grandma – unless "O" and our overblown government is doing something he shouldn't with that cash.

      July 15, 2011 at 7:04 am |
    • jean2009

      “Of all the enemies to public liberty war is, perhaps, the most to be dreaded because it comprises and develops the germ of every other. War is the parent of armies; from these proceed debts and taxes … known instruments for bringing the many under the domination of the few.… No nation could preserve its freedom in the midst of continual warfare.”—James Madison

      July 17, 2011 at 12:09 pm |
  5. SPENDMO

    Money is for spending...."no you can't play with my toys".....

    July 14, 2011 at 6:54 pm |
  6. kefa34

    the wise shall inherit
    glory but shame shall be the promotion.

    July 14, 2011 at 8:04 pm |
  7. Pollytnjc

    You know, I think the republicans (via J. Walsh) claiming that 1) the president is lying and 2) that the debt has increased under his watch more so than previously, and 3) that he has failed to stimulate jobs and 4) that he is in over his head is complete bullshit. The bush administration is responsible for 90% of the debt, and in fact, started with money in the bank and BUSH RAN US INTO THE GROUND. Like most in washington, the conservatives are touting a party line to the DETRIMENT OF THIS COUNTRY. The first thing Boenner said was that he was going to fight Obama every step of the way, and he has done just that. From where I sit, the president has put forward what he promised, even tho side-railed by the worst economic situation since the depression ON THE DAY HE TOOK OFFICE. The conservatives have dinked around and failed to work on jobs like they said they would do, and instead are now re-arguing the lite bulb issue, attacked womens rights, and failed to support even their own proposals (as soon as Obama agreed to them as was). And suddenly, with the next election in site, they are now back to talking jobs and not cutting SSA? Where are the cuts to defense? Who can really believe the crap about not taxing the wealthy (since they are so busy creating jobs – NOT) yet the rest of us are worse off than ever before. I haven't lost faith in Obama – I have lost faith in common decency and speaking the truth, and believe the conservatives are acting in a way that serves only to harm this country....just to get their way. JERKS

    July 14, 2011 at 8:24 pm |
  8. Liz Carter in Georgia

    I agree Pollytnjc. Well said!

    July 15, 2011 at 1:08 pm |
  9. Patrica

    It was a big deal for everybody. The idea of a debt ilceing is to place a limit on how much the government can borrow. and debt ilceing fight has more than a few individuals concerned about how much the United States has to pay. Many wonder if the common pick for the country that owns America China will leave the United States in its wake. But Business Insider makes a point that China is not what many believe it is. China is a player, but the real solution to the country that owns America is really America. We own our own debt.

    April 2, 2012 at 2:18 pm |