Two things from President Obama's press conference this morning indicate that a worthwhile "big deal" might still be attainable in the debt ceiling negotations. First, Obama expressed support for means-testing Medicare, which represents an update in his public stance on Medicare and probably will have Nancy Pelosi and co. outraged.
Second, Obama admitted that there's still plenty of time for the two sides to find a large-scale deal before resorting to back-up options like the McConnell plan. Despite the sometimes-hysterical coverage of the past few days, he and Majority Leader John Boehner agree on that much, with Boehner saying that "We are far from the time for a last-ditch effort."
Update: headline fixed.
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