Wednesday, July 13, 2011

Leadership: Obama Storms Out of Meeting



Moody's Weighs Downgrading U.S. Credit Rating as Obama Says He 'Won't Yield' in Debt Talks

Leading credit rating agency Moody's said Wednesday that the U.S. government's impeccable credit rating was under review for a potential downgrade as tensions boil over in Washington with time running out to raise the nation's borrowing limit.

President Obama walked out of high-level negotiations Wednesday, saying according to a Republican aide, "I've reached my limit. This may bring my presidency down, but I won't yield on this."

Obama "stormed out of the room" but promised to resume talks Thursday, the GOP aide said.

"We are very far apart right now," House Majority Leader Eric Cantor said, calling Obama's exit from the talks Wednesday "abrupt." 

"He became very agitated, said 'Ronald Reagan wouldn't sit here. You either have to compromise on the dollar figure or the grand bargain,'" Cantor said. "He said, 'Don't call my bluff. I'm going to the American people on this.'"

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