Senate Dems: Cantor Solely At Fault For Debt Limit Impasse

Senate Democrats pointed their finger at one Republican Thursday who they say is solely responsible for holding up a potential agreement on debt limit negotiations, House Majority Leader Eric Cantor (R-Va.). 

“Leader Cantor has yet to make a constructive contribution to these discussions,” Sen. Chuck Schumer (D-N.Y.) told reporters. “More than anything else, he is holding up an agreement at this point.” 

Senate Majority Leader Harry Reid (D-Nev.), Sens. Dick Durbin (D-Ill.) and Schumer told reporters that a small group of Republicans “are calling the shots []and] are putting their extreme ideologies” over making a bipartisan agreement. 

“It’s time for Leader Cantor to make some concessions,” Schumer said. “He’s the only one at the table who hasn’t yet. 

Reid echoed Schumer’s words when responding to a question on whether Cantor’s presence in negotiations is constructive. 

“Unless [Cantor] changes and becomes someone who contributes to a solution, the answer is, no, he has not been constructive in working out the problems we have.”

The Senate trio was joined by Treasury Secretary Tim Geithner who reiterated the urgency of making a deal on the debt limit sooner rather than later. 

“We’ve looked at all available options,” Geithner said. “We have no way to give Congress more time to solve this problem and we’re running out of time.”

Although a robust deal is something both parties are pursuant of, Senate Minority Leader Mitch McConnell’s (R-Ky.) three-step contingency plan remains an alternative that Reid is looking in to. The Nevada Democrat said he’s been in contact with McConnell over the safety net plan but the kinks are still being ironed out. 

President Barack Obama is scheduled to meet with congressional leadership and Treasury Secretary Geithner Thursday afternoon to continue efforts in reaching a deal before August 2.