There are few signs of progress in the meetings between President Obama and Republican Congressional leaders about the need to raise the federal debt limit. On Thursday, the president said the two sides were still “far apart,” although he said recent meetings were “very constructive.” For his part, the House speaker, John Boehner, said on Friday that no agreement was “imminent.” One thing that most officials seem to agree on, however, is that failing to raise the limit by the Aug. 2 deadline will have undesirable consequences.
Interior
Source: The New York Times