Obama to meet House, Senate Democratic leaders

July 21, 2011 - 4:30 PM

WASHINGTON (AP) — President Barack Obama is meeting with the top four congressional Democratic leaders later Thursday at the White House to discuss the status of debt talks.

Attending the 5:30 p.m. meeting will be Senate Majority Leader Harry Reid of Nevada, Sen. Richard Durbin of Illinois, House Minority Leader Nancy Pelosi of California and Rep. Steny Hoyer of Maryland.

The meeting comes with the Aug. 2 deadline for raising the nation's borrowing authority less than two weeks away. The talks center on deficit reductions demanded by Republicans. The negotiations have focused on plans to reduce the deficit by as much as $4 trillion over 10 years.

Democrats demand tax revenue in the deal, a condition Republicans have rejected.