“Hoagie Summit”: Obama, Boehner Discuss Debt [VIDEO]

President Obama and House Speaker John Boehner got together Wednesday for a little lunch and to talk the economy, but the conversation quickly turned to the possibility of a repeat stand-off over debt.

FOX News Radio White House Correspondent Mike Majchrowitz reports from the West Wing:

Audio clip:

The “Hoagie Summit” was to discuss economic legislation, but it soon turned to the debt ceiling.  The President, rejecting the House Speaker’s demand for more spending cuts before any future rise in the nation’s borrowing limit.  Press Secretary Jay Carney says cuts without tax increases are also out.

(Carney) “He would not accept an approach that asks middle class families and senior citizens to make sacrifices without asking for anything more from millionaires and billionaires.”

California House Republican Kevin McCarthy says the President initially refused to compromise last time, too.

(Rep. McCarthy) “If we waited for the President, you still wouldn’t even have a debt ceiling.”

McCarthy says the President must engage with Republicans on controlling spending.

At the White House, Mike Majchrowitz, FOX News Radio.

WATCH more on the possibility of another showdown over the debt ceiling HERE:




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