President Barack Obama and Vice President Joe Biden shake hands in the Oval Office following a phone call with House Speaker John Boehner securing a bipartisan deal to reduce the nation’s deficit and avoid default, Sunday, July 31, 2011.

President Barack Obama and Vice President Joe Biden shake hands in the Oval Office following a phone call with House Speaker John Boehner securing a bipartisan deal to reduce the nation's deficit and avoid default, Sunday, July 31, 2011.

President Barack Obama talks on the phone with House Minority Leader Nancy Pelosi in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Phil Schiliro; Assistant to the President and Special Advisor; Senior Advisor David Plouffe; Nancy-Ann DeParle, Deputy Chief of Staff for Policy; Bruce Reed, Chief of Staff to the Vice President; Rob Nabors, Assistant to the President for Legislative Affairs; and Vice President Joe Biden.

President Barack Obama talks on the phone with House Minority Leader Nancy Pelosi in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Phil Schiliro; Assistant to the President and Special Advisor; Senior Advisor David Plouffe; Nancy-Ann DeParle, Deputy Chief of Staff for Policy; Bruce Reed, Chief of Staff to the Vice President; Rob Nabors, Assistant to the President for Legislative Affairs; and Vice President Joe Biden.

July 31, 2011 "The Vice President and other staff watch and listen as the President talks on the phone in the Oval Office with Senate Majority Leader Harry Reid during the debt limit and deficit discussions." (Official White House Photo by Pete Souza) This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.

July 31, 2011
"The Vice President and other staff watch and listen as the President talks on the phone in the Oval Office with Senate Majority Leader Harry Reid during the debt limit and deficit discussions." 
(Official White House Photo by Pete Souza)

This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.

President Barack Obama talks with senior advisors in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Vice President Joe Biden; Rob Nabors, Assistant to the President for Legislative Affairs; OMB Director Jack Lew; Pete Rouse, Counselor to the President; and Senior Advisor Valerie Jarrett.

President Barack Obama talks with senior advisors in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Vice President Joe Biden; Rob Nabors, Assistant to the President for Legislative Affairs; OMB Director Jack Lew; Pete Rouse, Counselor to the President; and Senior Advisor Valerie Jarrett.

Vice President Joe Biden looks out the window as President Barack Obama talks on the phone with House Speaker John Boehner in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011.

Vice President Joe Biden looks out the window as President Barack Obama talks on the phone with House Speaker John Boehner in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011.

President Barack Obama meets with senior advisors in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Treasury Secretary Timothy Geithner; Chief of Staff Bill Daley; National Economic Council Director Gene Sperling; OMB Director Jack Lew; Senior Advisor Valerie Jarrett; Bruce Reed, Chief of Staff to the Vice President; and Counsel to the President Kathryn Ruemmler.

President Barack Obama meets with senior advisors in the Oval Office to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Pictured, from left, are: Treasury Secretary Timothy Geithner; Chief of Staff Bill Daley; National Economic Council Director Gene Sperling; OMB Director Jack Lew; Senior Advisor Valerie Jarrett; Bruce Reed, Chief of Staff to the Vice President; and Counsel to the President Kathryn Ruemmler.

President Barack Obama talks on the phone with House Minority Leader Nancy Pelosi and Senate Majority Leader Harry Reid in Chief of Staff Bill Daley’s West Wing Office at the White House to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Chief of Staff Bill Daley, National Economic Council Director Gene Sperling, and Treasury Secretary Timothy Geithner.

President Barack Obama talks on the phone with House Minority Leader Nancy Pelosi and Senate Majority Leader Harry Reid in Chief of Staff Bill Daley’s West Wing Office at the White House to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011. Chief of Staff Bill Daley, National Economic Council Director Gene Sperling, and Treasury Secretary Timothy  Geithner.

President Barack Obama and Vice President Joe Biden talk in a West Wing hallway at the White House in between meetings to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011.

President Barack Obama and Vice President Joe Biden talk in a West Wing hallway at the White House in between meetings to discuss ongoing efforts in the debt limit and deficit reduction talks, Sunday, July 31, 2011.

President Barack Obama meets with senior advisors in Chief of Staff Bill Daley’s West Wing office at the White House to discuss ongoing efforts to find a balanced approach to the debt limit and deficit reduction, Sunday, July 31, 2011. Pictured, from left, are: National Economic Council Director Gene Sperling; Chief of Staff Bill Daley; Bruce Reed, Chief of Staff to the Vice President; Rob Nabors, Assistant to the President for Legislative Affairs; OMB Director Jack Lew; Vice President Joe Biden; and Senior Advisor Valerie Jarrett.

President Barack Obama meets with senior advisors in Chief of Staff Bill Daley’s West Wing office at the White House to discuss ongoing efforts to find a balanced approach to the debt limit and deficit reduction, Sunday, July 31, 2011. Pictured, from left, are: National Economic Council Director Gene Sperling; Chief of Staff Bill Daley; Bruce Reed, Chief of Staff to the Vice President; Rob Nabors, Assistant to the President for Legislative Affairs; OMB Director Jack Lew; Vice President Joe Biden; and Senior Advisor Valerie Jarrett.

President Barack Obama and Vice President Joe Biden are briefed by Rob Nabors, Assistant to the President for Legislative Affairs, during a meeting in Chief of Staff Bill Daley’s West Wing office at the White House to discuss ongoing efforts to find a balanced approach to the debt limit and deficit reduction, Saturday, July 30, 2011.

President Barack Obama and Vice President Joe Biden are briefed by Rob Nabors, Assistant to the President for Legislative Affairs, during a meeting in Chief of Staff Bill Daley's West Wing office at the White House to discuss ongoing efforts to find a balanced approach to the debt limit and deficit reduction, Saturday, July 30, 2011.