Obama sees simple choice: Compromise or achieve nothing

ADVERTISEMENT
House Speaker John BoehnerJohn BoehnerHouse GOP faces dilemma on spending bills Overnight Finance: Puerto Rico bill clears panel | IRS chief vows to finish term | Bill would require nominees to release tax returns Overnight Defense: Pentagon chief fears sequestration's return MORE (R-Ohio) told House Republicans in a letter that President Obama is “adamant” about raising taxes and would not agree to “fundamental changes” to entitlement programs.

White House officials said Friday evening that they were very close to getting a deal to raise the nation's debt ceiling before BoehnerJohn BoehnerHouse GOP faces dilemma on spending bills Overnight Finance: Puerto Rico bill clears panel | IRS chief vows to finish term | Bill would require nominees to release tax returns Overnight Defense: Pentagon chief fears sequestration's return MORE backed away.

“We were this close to settling” on an agreement, a White House aide said, holding his finger and thumb an inch apart.

In his Saturday message Obama once again said a "balanced approach to cutting the deficit" was needed.

"We need an approach that makes some serious cuts to worthy programs – cuts I wouldn’t make under normal circumstances – and we need an approach that asks everybody to do their part," he said.

"That’s the heart of this approach: serious cuts, balanced by some new revenues."

More in News

DHS head: 'We won’t compromise aviation security’ over TSA delays

Read more »