Obama on Tuesday announced he would meet Thursday at the White House with the top two leaders of both parties in both chambers of Congress.

McConnell said he hoped Obama is now ready to slash spending as part of a deal that would allow the Treasury to continue borrowing past Aug. 2.

“It’s notable that the president, who not that long ago preferred that we raise the debt ceiling without any corresponding plan to do these things, now wants to discuss the need to do something about our crushing debt burden," said McConnell. “Thursday's meeting will give us the chance to see if the president means what he says."