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President wants to leave himself the possibility of signing mr. boehner's version if the it's the only option to raise the nation's debt ceiling in the last hours before the august 2nd deadline next week. you're saying that it may not even get there. >> it won't even get to that. we have already heard from majority leader reid that it can't past the senate. the president was clear last friday, that there were a couple things that were absolutely essentially. one, we have to compromise. everybody has to give a little, and the other very important point is he said very clearly that we need a lon...

By cutting income taxes or corporate taxes. most of that would come through closing tax loopholes. the trouble is it is a very, very complex piece of legislation, and there is considerable doubt up here whether or not this could be accomplished by the august 2nd deadline. reporters put the question to jay carney yesterday about whether the president would be willing to accept some kind of an extension, some kind of a bridge to get them through that august 2nd deadline. here's carney's response. >> obviously, if both sides agree to something significant, we will support the measures needed to f...

The possibility of signing mr. boehner's version if the it's the only option to raise the nation's debt ceiling in the last hours before the august 2nd deadline next week. you're saying that it may not even get there. >> it won't even get to that. we have already heard from majority leader reid that it can't past the senate. the president was clear last friday, that there were a couple things that were absolutely essentially. one, we have to compromise. everybody has to give a little, and the other very important point is he said very clearly that we need a long-term solution. when we listen t...

Latest updates on this topic from reliable sources.