Obama OK With Short-Term Debt Deal, So Long As...

...those days are used to hammer out longer-term deal
By John Johnson,  Newser Staff
Posted Jul 20, 2011 7:50 PM CDT
Updated Jul 21, 2011 4:00 AM CDT
Tick-Tock: Push Continues for Long-Term Debt Deal
In this July 14 photo, Eric Cantor, left, Nancy Pelosi, John Boehner, and President Obama.   (AP Photo/Charles Dharapak)

(Newser) – All of the debt ceiling meetings have broken up for the evening, and, surprise, surprise, no breakthrough deal has emerged. But once again, there's hope: The big development of the day looks to be the White House declaration that President Obama would agree to a short-term deal to raise the debt ceiling—a few days, max—to give lawmakers time to hammer out a longer-term deal. The Washington Post and Wall Street Journal are giving the shift prominent play and have details.

"Obviously, if both sides agree to something significant, we will support the measures needed to finalize the details of that," said White House spokesman Jay Carney. The president still hopes the Gang of Six plan can provide the framework for a "grand bargain," but the logistics of turning it into legislation that can pass before Aug. 2 are daunting. Obama met face-to-face again with John Boehner and Eric Cantor late this afternoon, notes the Hill. He met with Democratic leaders prior to that. (Senate Democrats today blasted last night's House vote. Click for that story.)

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