Debt limit veterans look for hopeful signs in Tuesday’s meeting – JP

“What will really be disturbing, I think, to markets and to others is if it’s not clear when or if they’re gonna meet again,” said Neil Bradley, a former McCarthy aide who served as deputy chief of staff to then-House Majority Leader Eric Cantor, R-Va., during the 2011 debt limit fight. During that standoff, talks went down to the last day before a deal was cut.

Working under a new deadline and with key players coming together for the first time, the meeting has the potential to begin a shift from political posturing to governing and finding a path forward, said Arshi Siddiqui, who was a top aide to former Speaker Nancy Pelosi, D-Calif.

“The president convening everybody at the White House allows a true discussion and dialogue to occur and we haven’t seen that yet, so that’s the significance from that perspective in terms of ultimately threading the needle,” said Siddiqui, now a partner at Akin Gump Strauss Hauer and Feld.

She said both Democrats and Republicans seem to be prioritizing a long-term agreement, which is promising in that both parties are interested in a solution that would offer financial markets more certainty.

Tom Kahn, who was staff director for House Budget Committee Democrats during the 2011 negotiations, said staff discussions following the White House meeting could help carve out both sides’ positions.