The Democratic official said Obama reiterated a "strong preference" for the "largest deal possible, with tough spending cuts, including entitlement reforms, and savings from the tax code." The administration also discussed extending the payroll tax cut , as well as extending unemployment insurance.
House Minority Leader Nancy Pelosi, D-Calif., said after the meeting that the House Democratic Caucus backs Obama's "grand bargain" - saving up to $4 trillion while avoiding an unprecedented default crisis."
But, the Democratic official said, Obama also said that a "substantial deal of approximately $2 trillion would be possible if all sides were willing to give a little."
A third option, the official said, would be to do "significantly less on the deficit" while still ensuring a long-term increase in the debt limit.
The group, which has been meeting daily with Obama since Sunday, won't meet Friday, but the Republican official said Obama suggested another meeting over the

You can maintain your blog by logging in to your Bravenet account. Once you are logged in you can customize the layout, colors, and features. In addition, you can add your own links, edit your profile, add your friends, and change many other options to personalize your blog.

Once you begin using your blog, you can view statistics in your members area to see how many people are reading your blog as well as where they come from.

We hope you enjoy your Blog. Be sure to tell all your friends about this great new service from Bravenet!