Here’s what they’ve got: we need to raise the debt ceiling.

Mr. Obama, after meeting with congressional leaders in the White House Cabinet Room for more than an hour, said both sides agree they need to raise the U.S. debt ceiling but that nothing has been agreed to until everything has been agreed to. He said he and congressional leaders would meet again Sunday at the White House to resume the talks. Staff, he said, will continue working throughout the weekend. Mr. Obama said everyone acknowledged “there’s going to be pain involved politically on all sides.”

Obama Calls Debt Meeting ‘Constructive’ [WSJ]

Comments (31)

  1. Posted by Last Man Standing | July 7, 2011 at 7:35 PM

    yep, that’s what Washington is all about; having constructive meetings.

  2. Posted by Citicorp Shareholder | July 7, 2011 at 7:35 PM

    Couldn’t we achieve the same thing by lowering the debt floor?

  3. Posted by guest | July 7, 2011 at 7:43 PM

    “I like ice cream”
    “I like ice cream too”
    “Great, this meeting is adjourned”

  4. Posted by J Skilling | July 7, 2011 at 7:46 PM

    Don’t forget to monetize it and collect 33 years of bonus in advance when you do lower it.

  5. Posted by Also A Guest | July 7, 2011 at 7:50 PM

    They agreed that they need to not completely fuck the US/world economic system??I’d really like to see the points they had in the “Pro” column when they were weighing that decision.

  6. Posted by Jack Donaghy | July 7, 2011 at 7:57 PM

    We need hope. We need change. We need experience. We need pens.

  7. Posted by Gentleman Trader | July 7, 2011 at 7:57 PM

    Meeting is adjourned?

  8. Posted by Barry_US_citizen | July 7, 2011 at 8:05 PM

    Get me Alphonse Fletcher stat!

  9. Posted by Texashedge | July 7, 2011 at 8:11 PM

    Fuck the debt ceiling. Issue equity.

  10. Posted by PasteSpecialFormats | July 7, 2011 at 8:16 PM

    Since in the future there will be no taxes (thank you, Republicans), it won’t matter.

    -M&M

  11. Posted by Papa | July 7, 2011 at 8:42 PM

    Or how about knocking down a wall or two and expanding into the back yard?  I mean, the kids hardly use it anymore.

  12. Posted by L. Richie | July 7, 2011 at 8:47 PM

    The White House issued a statement describing the meeting,
    “Everybody starts to lose controlWhen the music is rightIf you see somebody hanging aroundDon’t get uptightThe only thing we wanna do tonightIs go round and roundand turn upside downCome on, let’s get downSo come on, let’s get looseDon’t hold backBecause it ain’t no useHard to keep your feet on the groundBecause when we like to partyWe only want to get downOh, what a feeling!When we’re dancing on the ceiling”

  13. Posted by Anonymous | July 7, 2011 at 8:52 PM

    Or buy the apartment upstairs and create a great room with a really high ceiling.

  14. Posted by Alt-ESF | July 7, 2011 at 8:52 PM

    That’s a brilliant idea.

    I’m going to start issuing warrants on future US surpluses, notional value $10m. For every bp of surplus on our GDP, you get an equal pro-rata payout at the end of that fiscal year.

    not joking at all.

  15. Posted by Anonymous | July 7, 2011 at 8:53 PM

    US Treasury : Treasurys :: Phil Falcone : Lightsquared Shares

  16. Posted by Alt-ESF | July 7, 2011 at 8:53 PM

    Tenors of 30, 50 and 100 years. Or will design to suit.

  17. Posted by The old guy | July 7, 2011 at 9:13 PM

    “wildly productive meeting”?? That must be a new euphemism.

    Back in my day we called them “circle jerks”……

  18. Posted by Guest | July 7, 2011 at 9:22 PM

    In your day did they have sarcasm? 

  19. Posted by early hominid | July 7, 2011 at 9:27 PM

    If you’re going to make an omelette you’ve got to have some frank and constructive discussion with the eggs. 

  20. Posted by Vinnie the Guinea | July 7, 2011 at 9:28 PM

    In my day your mother took it up the ass. Repeatedly.

  21. Posted by Guest | July 7, 2011 at 9:32 PM

    it is?

  22. Posted by Gentleman Trader | July 7, 2011 at 9:49 PM

    No, you say that!

  23. Posted by The old guy | July 7, 2011 at 9:50 PM

    Yes, would you like me to explain it to you so that you can get the joke as well?

  24. Posted by ZEOHSIX | July 7, 2011 at 9:54 PM

    My “quant” told me to stack more Maple Leafs :)

  25. Posted by Guest | July 7, 2011 at 10:07 PM

    Hi Daddy

  26. Posted by Castor | July 7, 2011 at 10:26 PM

    Suggesting that we annex Canada?

  27. Posted by Anonymous | July 8, 2011 at 10:27 AM

    Exactly. Thanks for getting the joke.  xoxo

  28. Posted by Guest | July 8, 2011 at 11:44 AM

    I’d like a quote for US outs please.

  29. Posted by Guest | July 8, 2011 at 11:44 AM

    I’d like a quote for US outs please.

  30. Posted by Guest | July 8, 2011 at 3:22 PM

    UBS sucks.

  31. Posted by Guest | July 8, 2011 at 3:22 PM

    UBS sucks.

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