Debt negotiations resume at the White House this afternoon after a 75-minute session failed to yield any meaningful progress Sunday, where President Obama continued to press congressional leaders for a larger $4 trillion deficit reduction deal that would include at least $1 trillion in tax increases, a deal that Boenher rejected over the weekend. The House speaker has said he thinks a smaller deal of around $2 trillion in spending cuts — in line with the framework negotiated by the Biden commission — is the most reasonable option. The editors concur on the home page. President Obama plans to prime the pump at a 11 a.m. press conference prior to today’s meeting.
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