Free Republic

<p>Treasury Secretary Tim Geithner said Sunday that he did not initially think lawmakers would bring the debt-ceiling negotiations "this close to the edge," appearing taken aback by the lingering distance between the two sides with an Aug. 2 deadline looming.</p>

Just out from CNN's Lisa Desjardins BREAKING - NEW Dem. debt plan: Reid to offer at "least $2.5 Trillion" in deficit redux w/ no revenue increases, Dem. source tells CNN. NEW REID PLAN: "At least $2.5 T in deficit redux" w/ no revenue increases. BUT, unclear what baseline he's using and what he'd cut. REID PLAN: Dem aide tells our @tedbarrettcnn they think it meets GOP call for dollar-for-dollar spending cuts with debt increase.

WASHINGTON (AFP) – President Barack Obama was to meet with his top Democratic allies in the US Congress at 6:00 pm (2200 GMT) Sunday to discuss efforts to avert a disastrous US debt default, an official said. Democratic Senate Majority Leader Harry Reid and Democratic House Minority Leader Nancy Pelosi were due at the White House with jittery world markets eyeing Washington for signs of a breakthrough, the Democratic official said.

WASHINGTON (AP) — President Barack Obama will meet with the top Senate and House Democrats Sunday night amid the nation's deepening political standoff over the federal debt. The White House said late Sunday afternoon that Obama had invited Senate Majority Leader Harry Reid and House Democratic leader Nancy Pelosi to the Oval Office.