Obama, Biden to meet congressional leaders on fiscal impasse

President Barack Obama and Vice President Joe Biden will meet congressional leaders on Monday to discuss the impasse on how to extend the U.S. debt ceiling and end a government shutdown.

The White House said the meeting would be held at 3 p.m. EDT (1900 GMT). Included will be Senate Majority Leader Harry Reid, Senate Republican leader Mitch McConnell, House of Representatives Speaker John Boehner, the top Republican in Washington, and House Democratic leader Nancy Pelosi.

The White House said that with time running out until the U.S. borrowing limit is reached on Thursday, Obama will make clear the need for Congress to act and stress he will not be forced into concessions by conservative Tea Party House members.

"The president will also reiterate our principles to the leaders: we will not pay a ransom for Congress reopening the government and raising the debt limit," the White House said.
"The president continues to urge Congress to pass a bill that raises the debt ceiling and lends the certainty our businesses and the economy needs."