WKYT | Lexington, Kentucky | News

Obama, Republicans still have work to do

WASHINGTON (AP) - President Barack Obama says he'll keep calling meetings on deficit reduction and the government borrowing limit until there's a deal, even though he and Republican lawmakers remain far apart.
So far, neither side showed any give that might generate hopes for a speedy agreement.
One major sticking point is revenue increases. The GOP still says that's a non-starter.
Wisconsin's Rep. Paul Ryan tells CBS's "The Early Show" that "we are already taxing our job creators and our businesses more than our foreign competitors are taxing theirs."
Ryan says there should be over a dollar in spending cuts for every dollar in new borrowing authority.
Lawmakers were asked to return to the White House for talks this afternoon after a 90-minute Monday session produced no progress other than to identify the size of the gap between Republicans and Obama.

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