Obama Rejects Short-Term Deal

    President Barack Obama talks about the ongoing budget negotiations, Monday, July 11, 2011, in the briefing room of the White House in Washington.

    Pablo Martinez Monsivais / AP Photo

    President Obama ruled out any short-term solutions to the debt limit, as Republicans and Democrats prepare to meet just weeks before the country defaults. “If not now, when?” Obama asked at a press conference. “Pull off the Band-Aid,” he said. “Eat our peas.” He also acknowledged that there’s resistance on his side from Democrats who refuse to touch entitlements, and resistance from Republicans who refuse to raise revenue. House Speaker John Boehner, who is scheduled to meet with Obama and congressional leaders this afternoon, said Saturday that Republicans would not support the larger deficit-cutting plan Obama proposed because it included tax increases.

    Read it at Associated Press