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From left: President Obama, Senate Majority Leader Harry Reid, Nevada Democrat, Senate Minority Leader Mitch McConnell, Kentucky Republican, and Senate Majority Whip Richard Durbin, Illinois Democrat, meet in the Cabinet Room of the White House on July 13, 2011, regarding the debt ceiling. (Associated Press)
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ASSOCIATED PRESS Federal subsidies for farmers are cited by budget-cutters on Capitol Hill as a potential area of agreement with the White House. The subsidies cost taxpayers billions of dollars a year. "It has become impossible to justify these programs," said Rep. Ron Kind, Wisconsin Democrat.
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President Obama sits with House Speaker John Boehner (left), Ohio Republican, Senate Minority Leader Mitch McConnell (second from right), Kentucky Republican, and Sen. Dick Durbin, Illinois Democrat, as he meets on July 13, 2011, with Republican and Democratic leaders regarding the debt ceiling in the Cabinet Room of the White House. (Associated Press)
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**FILE** President Obama acknowledges family members and friends of U.S. Army Sgt. First Class Leroy Arthur Petry of Santa Fe, N.M., during a ceremony at the White House during which Petry was awarded the Medal of Honor for his valor in Afghanistan. (Associated Press)
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ASSOCIATED PRESS President Obama greets Sgt. 1st Class Leroy Arthur Petry before awarding him the Medal of Honor during a ceremony in the East Room of the White House on Tuesday. Sgt. Petry is the ninth service member to have been named a recipient of the Medal of Honor for actions in Afghanistan and Iraq.
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Kamani Robinson (center), originally from Washington, demonstrates with others in front of the White House on July 9, 2011, to call for a stop to the NATO bombing of Libya. (Associated Press)
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President Obama meets Monday at the White House with House Speaker John A. Boehner, Ohio Republican, for talks aimed at a deal on debt reduction. (Associated Press)
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President Obama talks about the ongoing budget negotiations on July 11, 2011, in the briefing room of the White House. (Associated Press)
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President Obama talks about the ongoing budget negotiations during a press conference in the briefing room of the White House in Washington on Monday, July 11, 2011. (AP Photo/Charles Dharapak)
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President Obama talks about the ongoing budget negotiations on Monday, July 11, 2011, in the press briefing room of the White House in Washington. (AP Photo/Pablo Martinez Monsivais)
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President Obama heads to the Oval Office after making a statement about the unemployment numbers in the Rose Garden of the White House on July 8, 2011. (Associated Press)
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President Obama delivers a statement on the monthly jobs report on July 8, 2011, in the Rose Garden of the White House. (Associated Press)
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**FILE** House Speaker John Boehner (left), Ohio Republican, listens as President Obama speaks July 7, 2011, during a meeting with Congressional leadership to discuss the debt in the Cabinet Room of the White House. (Associated Press)
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President Obama, followed by White House press secretary Jay Carney, arrives at the press briefing room of the White House in Washington on Thursday, July 7, 2011, to talk about the ongoing budget negotiations. (AP Photo/Pablo Martinez Monsivais)
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President Barack Obama sits with Twitter co-founder and Executive Chairman Jack Dorsey during a "Twitter Town Hall" in the East Room of the White House in Washington, Wednesday, July 6, 2011. (AP Photo/Charles Dharapak)
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President Obama makes a statement to reporters about debt ceiling negotiations on July 5, 2011, at the White House. (Associated Press)
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President Barack Obama walks off of Marine One on the South Lawn of the White House in Washington, Thursday, June 30, 2011, after returning from fundraising in Philadelphia. (AP Photo/Susan Walsh)
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White House Press Secretary Jay Carney speaks during his daily news briefing at the White House on June 30, 2011. (Associated Press)
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President Barack Obama gestures during a news conference in the East Room of the White House in Washington, Wednesday, June 29, 2011. (AP Photo/Carolyn Kaster)
