Obama, Dems, GOP Draw Lines on Debt Ceiling Debate

Wednesday, July 06, 2011

Republican and Democratic Congressional leaders will meet at the White House today in an attempt to reach a deal over deficit reduction and raising the debt ceiling. President Obama says that any agreement must close tax loopholes, while the vast majority of Republicans say that new taxes cannot be a part of the deal. Obama has also signaled he's open to cutting spending on "entitlement programs," something that makes many members of his party nervous. Todd Zwillich, The Takeaway's Washington correspondent, previews the meeting and tells us what each side is bringing to the table.

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