Obama on Debt: ‘It’s Decision Time’

Now he means business: President Obama told congressional leaders to talk with their members over the next 24 to 36 hours “to see what can be done” to reach a deficit-reduction deal and planned a news conference for Friday morning. Obama said, “It’s decision time. We need concrete plans to move this forward.” Although Obama also said he might call leaders back to the White House over the weekend for further discussion, one Republican aide said, “The White House talks are irrelevant, a sideshow. They have been overtaken by events.” Meanwhile support appeared to be growing for Mitch McConnell’s backup plan, which would give Obama power to raise the debt cap himself. Senator Harry Reid said that he had spoken to McConnell about the plan. Reid said, “I told him I appreciated his work and I would do everything I could to try to be positive about it.”