President Obama conducts a meeting with congressional leadership on deficit reduction in the Cabinet Room of the White House, July 14, 2011. Pictured with Obama are (L-R) House Minority Leader Nancy Pelosi (D-CA), House Speaker John Boehner (R-OH), Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY). REUTERS/Jason Reed