DEBT TALKS IN CRISIS – AT 10:44 A.M. ET:  From Fox:

Senate Republican Leader Mitch McConnell told Fox News that he thinks a major deficit-reduction deal cutting $4 trillion over the next decade is off the table, claiming Democrats are pushing too hard for tax increases.

"Everything they've told me and the speaker is that to get a big package would require big tax increases in the middle of the economic situation," McConnell told "Fox News Sunday." He called the prospect of tax hikes a "terrible idea."

The Senate GOP leader is the latest to weigh in on the rollercoaster negotiations that are set to continue Sunday evening at the White House. That summit is taking on fresh urgency after House Speaker John Boehner announced he was lowering expectations about the size of the deficit-reduction package that can be achieved over concerns about the rift between the two parties.

COMMENT:  We know how the Dems will spin this:  Republicans are protecting tax cuts for the rich while putting the nation in jeopardy.  Hey, we may not be able to send out those Social Security checks. 

Don't put that past the Dems.  Claiming that the Republicans are ready to put all puppies to sleep is an old and often successful technique.

Talks are still scheduled at the White House for today.

July 10, 2011