The Presidential Planner: Stalemate Continues As Clock Ticks Toward Default

ABC News’ Mary Bruce ( @marykbruce ) reports:

After the President and House Speaker took to the airwaves to deliver dueling addresses on the deficit Monday night, Obama will spend today largely behind closed doors.

With the clock ticking toward default, the president will once again wrestle with how to raise the $14.3 trillion debt ceiling and reduce the nation’s deficit by Aug. 2.

In his seventh primetime address to the nation last night, Obama made an urgent plea for compromise on Capitol Hill where the stalemate continues over competing plans put forth by the Republican House and Democratic Senate.

The president went after House Speaker John Boehner’s proposal, which would raise the debt ceiling by roughly $1 trillion and extend the limit through 2012, saying it was a short-term solution that “doesn’t solve the problem.”

For his part, Boehner said he “gave it my all” to identify a path forward, but ultimately the president “would not take yes for an answer.”

In addition to Oval Office meetings with his advisors, the president and vice president will meet with Defense Secretary Leon Panetta at the White House today.

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