Obama to meet with Senate Dems. on deficit Wednesday 

President Obama, continuing his heightened role in stalled deficit talks, will meet with Senate Democrats at the White House Wednesday.

Obama and Vice President Joe Biden will meet with Senate Majority Leader Harry Reid, D-Nev., and Sens. Dick Durbin, D-Ill., and Charles Schumer, D-N.Y. Republicans aren't yet on the docket for another meeting, the White House said.

Democrats remain insistent that any debt deal must include tax increases while Republicans say they will not sign off on raising the debt ceiling if the proposal includes tax hikes. Both sides are looking to identify roughly $2 trillion in spending cuts over the next decade.

In about a month, the country's debt limit will cap at $14.3 trillion, and U.S. officials say failure to raise the ceiling would causethe government to default on loans from global partners.

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Brian Hughes

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