Photo: Asked if he thought a deal could be reached with Cantor at the table, Reid said he didn’t think so unless Cantor changes his tone and starts to contribute to the talks.
The White House has been in contact with the major credit rating agencies to avoid a downgrade of U.S. treasuries as the debt limit deadline nears, officials said Monday.”We’ve been trying to make them understand that Washington and the President is committed to bringing down the deficit and controlling spending,” White House Communications Director Dan Pfeiffer said, responding to a question from Business Insider.
All three major agencies have indicated they would downgrade the government’s credit rating if a deal isn’t reached by August 2nd, with Standard & Poors warning a downgrade could come earlier if it doesn’t appear a deal will be reached in time.
The agencies have also called on the President and Congress to take a tougher stance on cutting the deficit, warning failure to do so could trigger a downgrade even if the debt ceiling is raised.
“They contacted us early on to check the degree of political intention and resolve, so we were in touch with them,” Pfeiffer said. “But the vast majority of the conversations have been been run by the Treasury Department.”
Last week House Minority Leader Nancy Pelosi indicated that her office had been in contact with S&P before they released their warning.
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