Published: Jul 10, 2011 2:21 PM EDT
Updated: Jul 10, 2011 1:27 PM EDT

WASHINGTON (AP) - The White House meeting today on deficit reduction and an increase in the government's borrowing authority to avoid default could mark a pivotal point in the talks.

President Barack Obama and congressional leaders are regrouping after House Republicans gave up efforts for a $4 trillion, 10-year package. House Speaker John Boehner is now looking for a deal about half that size.