Obama meets with top Dem lawmakers on debt limit

By the Associated Press | July 30, 2011 | 3:44 PM EDT

WASHINGTON (AP) — President Barack Obama is stepping back into the debt-ceiling talks, calling Congress' top two Democrats to the White House for a meeting.

White House aides said Obama would receive an update Saturday from Senate Majority Leader Harry Reid and House Minority Leader Nancy Pelosi. The invitation came shortly after the GOP-controlled House rejected Reid's debt-ceiling proposal in a largely symbolic vote.

The chief negotiations are taking place in the Senate. Reid and his GOP counterpart are seeking a compromise plan that the House and Senate can agree on to extend the government's borrowing powers beyond Tuesday's deadline.