Deficit Talks Break Down on Capitol Hill

So much for another attempt at bipartisan negotiations. Vice President Joe Biden saw his bid to get both sides talking about ways to deal with the deficit come to a halt on Thursday after all two of the GOP participants cited talk of tax increases as their reason for bowing out.  —KA

Political Hotsheet on CBS News:

Democrats meanwhile, suggested Republicans are “playing with fire” by holding up a vote on raising the debt ceiling.

House Majority Leader Eric Cantor announced this morning that he would skip today’s scheduled meeting because “Democrats continue to insist that any deal must include tax increases.”

Subsequently, Republican Sen. Jon Kyl of Arizona announced he was pulling out of the negotiations. Kyl and Senate Minority Leader Mitch McConnell released a statement saying, “The White House and Democrats are insisting on job-killing tax hikes and new spending. That proposal won’t address our fiscal crisis, our jobs crisis, or protect and reform entitlements.”

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He’s out: House Majority Leader Eric Cantor decided Thursday not to participate in deficit talks.