Obama Steps Into Budget Talks

Step aside, Joe. A day after congressional Republicans called off debt-reduction talks with Vice President Joe Biden, the White House announced President Obama will meet directly with key lawmakers next week, reports the Washington Post. Obama will meet with Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell on Monday.

Biden and six lawmakers already tentatively agreed to $1 trillion in savings when negotiations broke down. Republicans are looking to cut health and retirement programs, while Democrats pressed for spending cuts at the Pentagon and a $400 billion tax hike for corporations and the rich. That's when Republicans took their ball and went home. "The president and his party may want a debt limit increase that includes tax hikes," says GOP House Speaker John Boehner. "But such a proposal cannot pass the House." (More President Obama stories.)