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0 minutes of talks withcongressional leaders, Obama said both sides still were farapart and that staff negotiators will work through the weekendto find each side's bottom line.
'HARD BARGAINING'
He said he will have another round of talks with topDemocrats and Republicans on Sunday, hoping to begin "the hardbargaining that's necessary to get a deal done."
"Everybody acknowledged that there's going to be paininvolved politically on all sides but our biggest obligation isto make sure that we are doing the right thing christian louboutin escandria ," he said.
Pelosi, who was speaker of the House until Democrats lostcontrol of that in elections last Nov. 2, said Democrats fearedthe poor and elderly would bear the brunt of budget-cutting.
The two sides have discussed changing the way thegovernment measures inflation to restrain the growth of SocialSecurity benefits and tax breaks christian louboutin escandria Christian Louboutin Mens Sneakers Writing by Tom Pfeiffer, an approach that could saveroughly $300 billion over 10 years.
"Do not consider Social Security a piggy bank for givingtax cuts to the wealthiest people in our country. We are notgoing to balance the budget on the backs of seniors, women andpeople with disabilities," Pelosi said.
House of Representatives Speaker John Boehner, toldRepublicans before meeting Obama that they should know by theend of the week whether a big agreement is possible.
"He said it was maybe 50-50," a Republican Party aide said."Whether or not it happens is really dependent on whether they(Democrats) continue to insist on tax hikes."
Normally a routine vote, the debt ceiling has beenembroiled in partisan politics, with Republicans seeking toimpose deep spending cuts to reduce the budget deficit christian louboutin escandria , whichopinion polls show is a major worry for many Americans.
Obama christian louboutin escandria , seeking to avoid angering his liberal base ahead ofhis 2012 re-election bid, wants tax increases on the wealthy tolessen the pain of spending cuts.
"I want to emphasize that nothing is agreed to untileverything is agreed to and the parties are still far apart ona wid