On the Hill today Vice President Biden led the fifth round of deficit negotiations to raise the $14.3 trillion debt limit before the Treasury Department's August 2nd deadline for action.
“The news economically and on the jobs front over the last several days I think underscore the importance of this meeting that we just came out of,” House Majority Leader Eric Cantor, R-Va., said to reporters following the meeting, “and there is a commitment for next week engaging once again in a robust series of meetings to see if we can achieve a result.”
Congresssional aides say that nothing has been scheduled yet for next week yet, but the group hopes to meet at least three times next week.
In April President Obama appointed Biden to lead the bipartisan deficit reduction talks with a group of lawmakers from each of the four caucuses and conferences. Over the past few months, the vice president has held five meetings, either at the Capitol or at the Blair House near the White House. This week the House of Representatives is out of session and the week prior the Senate was out of session. Next week both houses of Congress will be in session at the same time.
Cantor was the only leader to emerge from the closed-door meetings and speak with press.
“We believe that much of the problem surrounding the lack of job creation and growth in this country has to do with the fact that there isn’t a credible plan to manage down the debt and deficit in this country,” Cantor said. “That’s what we’re trying to produce here, and we had a much substantive discussion today and look forward to more next week.”