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GOP Leaders Engaged With Obama: McConnell and Boehner Confident On A Deal In The Near Future

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We are now fully engaged, the Speaker and I, with the one person in America out of 307 million people who can sign a bill into law

Republican leaders in Congress say they are confident that an impasse will end soon over raising the government's debt ceiling and heading off default.

"We are now fully engaged, the Speaker and I, with the one person in America out of 307 million people who can sign a bill into law."

House Speaker John Boehner and Senate Republican leader Mitch McConnell made the prediction after the Republican-led House rejected Senate Democrats' rival plan. McConnell said he had spoken in the previous hour with President Barack Obama and Vice President Joe Biden. Boehner and McConnell said the president still needs to indicate what kind of package he will sign. He said discussions on that were taking place.

In the meantime, Obama called Democratic leaders Harry Reid from the Senate and Nancy Pelosi from the House to the White House to meet with him Saturday afternoon.

The Associated Press contributed to this article.

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