• Multiple ways to resolve problem
• Plenty of modifications can be made to Reid, McConnell plans
• Urges common ground on plan that can be signed by Tuesday; parties not miles apart
• Rough agreement on amount of cuts
• Ready to debate tax and entitlement reform, open to enforcement mechanism
• Almost out of time
• Failure to reach agreement would result in loss of AAA rating
• Debt ceiling votes are routine, have been raised for decades; allow us to pay our bills