Republicans don't necessarily have control of debt ceiling increase negotiations, according to former President Bill ClintonWilliam (Bill) Jefferson ClintonTrump says he never told McCabe his wife was 'a loser' Harris off to best start among Dems in race, say strategists, donors For 2020, Democrats are lookin’ for somebody to love MORE.

"They think they got the president and the Democrats over a barrel because they say we just won't raise the debt ceiling unless you do exactly what we want," Clinton said in an interview with Bloomberg News's Al Hunt which was released on Thursday.


But Clinton said that wasn't necessarily true.

"Depends on whether we stand up to them," Clinton said.

"Their idea of a compromise is if they get only 80 or 85 or 90 percent of what we want and the Democrats don't get any of what they want. Most Americans don't consider that a compromise," Clinton continued.

Clinton's comments came the same day that President Obama rejected an invitation to meet with Senate Republicans and discuss their position on the debt ceiling increase negotiations. Obama turned down the invite.

"That's not a conversation worth having," White House press secretary Jay Carney said at the daily press briefing on Thursday.

McConnell's invitation and Obama's decision to turn it down came a day after a feisty Obama called on Republicans at a press conference to agree to closing tax loopholes for corporate jets and oil companies as part of a debt ceiling increase deal. Some Republicans, though, have said that no deal is possible if included tax increases of any kind.

Additionally, on Thursday Senate Democrats extended an invitation for Obama and Vice President to meet with them next week to discuss the debt increase talks. Democrats expect Obama to accept that invitation.