Obama’s failed quest for a ‘grand bargain’

Last summer, the White House was embroiled in a battle with Republican leaders over legislation to increase the debt ceiling and avert the country defaulting on its credit default. A look at the negotiations that unfolded between President Obama and his advisers, and House Speaker John A. Boehner and the GOP leadership.

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July 11, 2011

President Obama confers with staff on his debt limit and deficit reduction strategy. White House officials say last year's debt ceiling negotiations with Republicans, as the expiration of the borrowing limit loomed, were some of the most the most pressure filled of Obama's presidency.

Pete Souza / WHITE HOUSE

July 3, 2011

Obama meets with House Speaker John A. Boehner just before the Fourth of July holiday. The tea party caucus, critical of Obama's political agenda, presented a political challenge for the Ohio Republican as he negotiated the GOP agenda during debt reduction talks.

Pete Souza / WHITE HOUSE

July 13, 2011

President Obama hosts Congressional leaders in the White House Cabinet Room for debt ceiling talks. Attendees include, from left, House Majority Leader Eric Cantor, House Minority Leader Nancy Pelosi, House Speaker John A. Boehner, Senate Majority Leader Harry M. Reid and Senate Minority Leader Mitch McConnell.

Pete Souza / WHITE HOUSE

July 15, 2011

On July 15, President Obama pushes for a deal that would include tax increases: "My Republican friends have said that they're not willing to do revenues and they have repeated that on several occasions. My hope, though, is that they're listening not just to lobbyists or special interests here in Washington, but they're also listening to the American people."

Joshua Roberts / BLOOMBERG NEWS

July 14, 2011

Senate Majority Leader Sen. Harry M. Reid (D-Nev.), left, holds a news briefing after meeting with Treasury Secretary Timothy Geithner and Senate Democrats. "This debate is not about new spending. This is about bulls that are due," Reid said.

Evan Vucci / AP

July 15, 2011

Amid warnings of looming default by Democrats, House Speaker John A. Boehner holds a news conference, offering his own proposals.

Susan Walsh / AP

July 19, 2011

Sen. Kent Conrad (D-N.D.) and other members of the bipartisan “Gang of Six” on July 19 unveiled their own deficit-reduction package, which came after months of negotiation and put the Obama-Boehner proposal in jeopardy.

Melina Mara / THE WASHINGTON POST

July 20, 2011

Sen. Saxby Chambliss (R-Ga.), talks to reporters about the “Gang of Six: plan, which included an overhaul of the tax code that would raise nearly $2 trillion over a decade – double the $800 billion proposed by House Speaker John. A. Boehner.

Melina Mara / THE WASHINGTON POST

July 19, 2011

On July 19, Senate Majority Leader Harry M. Reid applauded the “Gang of Six’ for putting out a plan but expressed concerns about the plan getting passed by the Treasury deadline. “I'm happy to work and use anything in the ‘Gang of Six’ that we can. But remember we only have 13 days, 13 days,” Reid said.

Melina Mara / THE WASHINGTON POST

July 22, 2011

By July 22, negotiations between House Speaker John A. Boehner and President Obama are up in the air. Boehner doesn’t return Obama's calls. The two finally speak around 5:30 p.m., but Boehner tells Obama the deal is off. At a news conference, Boehner says “there is no plan” on raising the debt ceiling.

Alex Brandon / AP

July 22, 2011

A frustrated Obama holds a news conference July 22, pressing Congress to make a deal: “We have now run out of time. I told Speaker Boehner, I've told Democratic Leader Nancy Pelosi, I've told Harry Reid, and I've told Mitch McConnell I want them here at 11:00 a.m. tomorrow. We have run out of time. And they are going to have to explain to me how it is that we are going to avoid default.:

Jewek Samad / AFP/Getty Images

July 23, 2011

President Obama and Vice President Biden meet with Congressional leaders in the Cabinet Room of the White House on July 23. From left: Senate Minority Leader Mitch McConnell, House Minority Leader Nancy Pelosi, Office of Management and Budget Director Jack Lew, Senate Majority Leader Harry M. Reid, and House Speaker John A. Boehner.

Pete Souza / WHITE HOUSE

July 23, 2011

Discussions between House Speaker John A. Boehner, left, and President Obama are deadlocked after Boehner declines the White House framework for debt reduction.

Jewel Samad / AFP/Getty Images

July 24, 2011

President Obama and Vice President Biden confer on the South Lawn of the White House on July 24. That day, Obama calls House Speaker John A. Boehner and asks him to consider taking the deal they nearly struck a week earlier without the $400 billion in extra tax revenue. Boehner tells him no.

Pete Souza / WHITE HOUSE

July 29, 2011

With the Treasury deadline looming, House Speaker John A. Boehner walks to the House floor to take up debt reduction legislation rewritten overnight to win the support of conservative holdouts.

Speaker Boehner walks to the House floor./AP / AP

July 31, 2011

President Obama meets with senior advisors in the West Wing on July 31, two days before the Treasury deadline. Attendees included, from left, National Economic Council Director Gene Sperling; Chief of Staff Bill Daley; Bruce Reed, chief of staff to the vice president; Rob Nabors, assistant to the President for legislative affairs; Office of Management and Budget Director Jack Lew; Vice President Biden; and senior advisor Valerie Jarrett.

Pete Souza / WHITE HOUSE

July 31, 2011

Obama works through final negotiations on a debt reduction plan that will avert default.

Pete Souza / WHITE HOUSE

July 31, 2011

Obama works through debt reduction negotiations July 31 with Treasury Secretary Timothy Geithner; Chief of Staff Bill Daley; National Economic Council Director Gene Sperling; Office of Management and Budget Director Jack Lew; senior advisor Valerie Jarrett; Bruce Reed, chief of staff to the vice president; and counsel to the president Kathryn Ruemmler.

Pete Souza / WHITE HOUSE

July 31, 2011

President Obama talks with senior advisors in the Oval Office to discuss the debt limit .

Pete Souza / WHITE HOUSE

July 31, 2011

Vice President Biden shakes President Obama's hand in the Oval Office near the end of intense negotiations to produce deficit reduction plan that will pass Congress.

Pete Souza / WHITE HOUSE

Aug. 2, 2011

President Obama signs the Budget Control Act of 2011 on Aug. 2, the Treasury deadline for avoiding default. While Congress passed the debt reduction package in time, the historic “grand bargain” that Obama sought was not to be.

Pete Souza / WHITE HOUSE

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