With approximately two and a half days left before the August 2nd deadline, we reported this morning that negotiators are "very close" to a deal to raise the federal debt limit. NBC's Chief White House Correspondent Chuck Todd reported that the parties have agreed to a framework for a deal, though he warned not to be surprised if a short-term increase is passed to allow time to finalize the larger compromise.
On our roundtable this morning, freshmen representative Raul Labrador (R-ID) told me the votes "will be there" in the House for the compromise deal that's taking place in the Senate. Though he may not vote for it, he maintains the deal will have enough support if Speaker Boehner is for it.
White House Senior Adviser David Plouffe said today is a "critical day" in the negotiating progress. "We don't have a deal," he said, but admitted there is general agreement among negotiators to have deficit reduction in two stages.
The first stage would consist of about a trillion dollars in deficit reduction, while the second would contain the "trickier elements of entitlement reform and tax reform." The latter could end up being be another tough fight in Washington.
You can watch my entire interview with David Plouffe- as well as my segment with Senators McCaskill and Thune - on our website. Also check out our roundtable with interesting discussion and debate from Jim Cramer, Tom Brokaw, Rep. Raul Labrador and Fmr. Gov. Jennifer Granholm.
Make sure to join us next week - same time, same place. If it's Sunday, it's Meet The Press.