Debt talks continue?

"That's when Obama got visibly angry, telling Cantor that he could reach major savings if Republicans would agree to revenue increases, according to the GOP aide. He then upped the stakes by telling the group that he isn't afraid to veto a bill Congress produces and take the message and defend it to the American people.

Obama also let it be known that he had enough, noting that if U.S. defaults, it would amount to a tax increase on every American.

"I have reached the point where I say enough," Obama told the leaders, according to the account. "Would Ronald Reagan be sitting here? I've reached my limit. This may bring my presidency down, but I will not yield on this."

Both sides are scheduled to return to the White House Thursday. On the table are: talks on cuts in discretionary vs. mandatory spending; enforcement mechanisms to ensure the spending cuts continue beyond the first year; and whether to extend a payroll-tax break for workers and create another for employers aimed at spurring job growth and the economy."

via tpm

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