WASHINGTON (Reuters) - President Barack Obama is confident Democrats and Republicans can cut a "significant deal" to trim the U.S. deficit and increase its borrowing limit to avoid a damaging default, the White House said on Monday.
Despite the White House's optimism, both Republicans and Democrats showed little willingness to compromise after deficit reduction talks led by Vice President Joe Biden collapsed suddenly on Thursday.
"The president told me that everyone in the room believes a significant deal remains possible," White House spokesman Jay Carney told reporters after Obama's discussion with Democratic Senate leader Harry Reid.
Obama later sat down with Senate Republican leader Mitch McConnell but neither side would say how the talks went.
The White House said Obama and Biden would both continue to engage congressional leaders. McConnell has stuck firmly to his party's line that revenue-raising measures were off the table.
Obama last week met with House of Representatives Speaker John Boehner, the top Republican in Congress.
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