President Obama is hauling congressional leaders into the White House tomorrow for a sit-down in a desperate attempt to break the debt-ceiling deadlock. He rejected calls for a short-term increase in the limit, saying they had “a unique opportunity to do something big.” He said the sides had “made progress” over the weekend and hoped to clinch things with the meeting, the Washington Post reports. “It’s my hope that everybody is going to leave their ultimatums at the door.”
But John Boehner seemed to dismiss the talks as a waste of time. “The legislation the president has asked for—which would increase taxes on small businesses and destroy more American jobs—cannot pass the House,” he said. “I’m happy to discuss these issues at the White House, but such discussions will be fruitless until the president recognizes economic and legislative reality.” Talks remain deadlocked because Republicans refuse to accept any revenue increases, while Democrats insist on some.