The new round of budgetary negotiations led by Vice President Joe Biden will resume on Tuesday, the vice president said following Tuesday's meeting.

Biden issued a short statement following a meeting at Blair House with bipartisan congressional leaders intended to begin negotiations toward a comprehensive agreement on the nation's spending and debt.

"On behalf of all of us, let me say, we had a good, productive first meeting today," Biden said. "We plan to meet again on Tuesday and look forward to further discussions on these important challenges."

The talks included House Majority Leader Eric Cantor (Va.) and Senate Minority Whip Jon Kyl (Ariz.), representing Republicans. Representing Democrats were Senate Finance Committee Chairman Max Baucus (Mont.), Senate Appropriations Chairman Daniel Inouye (Hawaii), Assistant House Minority Leader James Clyburn (S.C.) and House Budget Committee ranking member Chris Van Hollen (Md.).

The talks commence with an eye toward an impending fight over raising the debt ceiling. Biden said the two aren't naturally connected, but would likely be wedded due to politics and Republicans' demands that an increase in the debt limit be accompanied by spending cuts and reforms.

"We know we have two looming concerns. One is the debt limit," Biden said before the meeting. "They're not technically connected, but the fact of the matter is, practically and politically it's committed."