Ticking Clock

Obama Seeks Debt-Talk Restart

Can President Obama and the GOP work out a deal before the debt clock runs out in early August? Obama rejected calls for a short-term fix on Tuesday, insisting we had “a unique opportunity to do something big.” He called congressional leaders to the White House for a meeting, set forThursday. But House Speaker John Boehner wasn’t too optimistic: “Such discussions will be fruitless until the President recognizes economic and legislative reality,” he said. The GOP is refusing any deal that would raise taxes, even as Democrats have announced their openness to Medicaid and Medicare slashes.