Real time Drama- extraordinary exchanges between the US President and White House speaker John Boehner

26.07: Obama urged Republicans to accept new revenues- a key sticking point in the negotiations as a way to balance the cuts that he said were serious,
"We can come together for the good of the country and reach a compromise; we can strengthen our economy and leave for our children a more secure future. Or we can issue insults and demands and ultimatums at each other, withdraw to our partisan corners and achieve nothing."
Republicans countered the emphasis needed to be cutting government spending.
"If we are going to avoid any type of default and downgrade- if we are going to resume job creation in America - the president and his allies need to listen to the people and work with Republicans to cut up the credit cards once and for all," said Representatative

Jeb Hensarling of Texas, a member of the Republican leadership.