Obama Tries to Salvage Debt Talks as Party Leaders Bicker Over Meaning of ‘Tax Hike’

President Obama, facing a narrowing window in which to strike a debt reduction deal, was using shuttle diplomacy Monday as he tries to bridge the chasm between congressional Democrats and Republicans over tax hikes.

Meeting separately with the top party leaders in the Senate, the president and Vice President Biden are trying to salvage bipartisan talks that broke apart last week when GOP negotiators walked away after refusing to agree to tax hikes. Obama met Monday morning with Senate Democratic Leader Harry Reid, and plans to see Senate Republican Leader Mitch McConnell late Monday afternoon.

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