Obama Dueling With Boehner Shows Deficit Compromise Not Near

President Barack Obama and House Republican leaders are showing no signs of backing off their stances on how to cut the federal deficit.

Obama, making his first public comments since Standard & Poor’s downgraded the U.S. credit rating to AA+ from AAA on Aug. 5, said yesterday that “common sense and compromise” should lead to a deficit-reduction plan that includes more tax revenue, which Republicans have rejected, as well as spending cuts.