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Obama concedes budget deal may be impossible

Wednesday - 3/13/2013, 9:24am  ET

President Barack Obama leaves the Capitol in Washington, after visiting with Senate Democrats in in the first of four meetings with lawmakers this week to discuss the budget, Tuesday, March 12, 2013. House Republicans are hosting Obama for a rare meeting at the Capitol on Wednesday, part of Obama’s concerted effort to mend ties with Congress in hopes of a grand compromise on fiscal issues. (AP Photo/J. Scott Applewhite)

WASHINGTON (AP) -- President Barack Obama is conceding "we're probably not going to be able to get a deal" on budget, tax and spending issues with Congress if Republicans continue to insist that no new revenues can be raised unless entitlement programs are significantly overhauled.

Obama, who has been stepping up efforts to talk to both Republicans and Democrats this week, tells ABC News that "ultimately, it may be that the differences are just too wide."

In the interview broadcast Wednesday, the president says he doesn't think such a stalemate would amount to a crisis. But he also says it would be regrettable. Obama says the purpose of his visits to Capitol Hill this week is "to identify what I call the common-sense caucus" in an effort to break the political gridlock.


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