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Obama Debt Showdown_Live.jpg

President Obama talks about the ongoing budget ceiling negotiations on July 29, 2011, at the White House. (Associated Press)

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House Ways and Means Committee Chairman Dave Camp said it looks like a deal will be worked out between President Obama and Capitol Hill Republicans that would allow the three long-stalled trade agreements with South Korea, Colombia and Panama to pass. "I think [members] are distracted with the debt issues," he said. "I think [the trade deals] are passed after the debt limit." (Associated Press)

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Obama Debt Showdown_Live.jpg

President Obama addresses the nation from the White House on July 25, 2011, on the approaching debt limit deadline. (Associated Press)

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Rep. Darrell E. Issa, California Republican, suspects an effort by the Obama administration to intimidate witnesses from testifying before his House committee regarding the "Fast and Furious" ATF cross-border firearms investigation. (Rod Lamkey Jr./The Washington Times)

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Obama Debt Showdown_Star.jpg

President Barack Obama addresses the nation from the East Room of the White House in Washington, Monday, July 25, 2011, on the approaching debt limit deadline. (AP Photo/Jim Watson, Pool)

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President Obama and baseball legend Willie Mays hold an autographed San Francisco Giants jersey at the White House on Monday. Giants manager Bruce Bochy (left) presented Mr. Obama with the jersey while his team was honored for its 2010 World Series championship. (Associated Press)

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Debt Showdown_Reps.jpg

House Speaker John Boehner of Ohio, center, joined by other GOP leaders, criticizes President Obama and Congressional Democrats for failure to end the debt crisis, Monday, July 25, 2011, on Capitol Hill in Washington, Monday, July 25, 2011. From left are, Rep. Jeb Hensarling, Texas Republican, Boehner, Rep. David Dreier,, California Republican, and House Majority Leader Eric Cantor of Va. (AP Photo/J. Scott Applewhite)

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President Obama addresses the annual National Council of La Raza conference in Washington on July 25, 2011. (Associated Press)

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President Barack Obama meets with House Speaker John Boehner of Ohio, left, in the Cabinet Room of the White House, Saturday, July 23, 2011, in Washington, to discuss the debt. (AP Photo/Carolyn Kaster)

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President Barack Obama greets members of the audience during his townhall at the Ritchie Coliseum on the campus of University of Maryland, Friday, July 22, 2011 in College Park, Md. (AP Photo/Pablo Martinez Monsivais)

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Obama Debt Showdown_Lea.jpg

President Obama leaves the White House briefing room after discussing the continuing budget talks on Tuesday, July 19, 2011, in Washington. (AP Photo/Manuel Balce Ceneta)

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Obama Debt Showdown_Lea.jpg

President Obama speaks to reporters about the continuing budget talks on Tuesday, July 19, 2011, in the briefing room of the White House in Washington. (AP Photo/Pablo Martinez Monsivais)

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DAILY CALLER Victoria Jackson, formerly of "Saturday Night Live," says President Obama has a lot in common with Adolf Hitler and she can list them if you want.

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Obama Consumer Protec_Lea.jpg

President Obama announces the nomination of former Ohio Attorney General Richard Cordray (right) as the first director of the Consumer Financial Protection Bureau (CFPB) on Monday, July 18, 2011, in the Rose Garden of the White House in Washington. (AP Photo/Manuel Balce Ceneta)

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President Obama meets with the Dalai Lama at the White House on Saturday, July 16, 2011. (Photo courtesy of the White House)

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President Barack Obama talks about the ongoing budget negotiations during a news conference, Friday, July 15, 2011, in the briefing room of the White House in Washington. (AP Photo/Pablo Martinez Monsivais)

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Obama Debt Showdown__Live.jpg

President Obama and House Speaker John A. Boehner take part in a meeting at the White House on July 14, 2011, with Republican and Democratic leaders regarding the debt ceiling. (Associated Press)

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President Obama makes an opening statement on the ongoing budget negotiations before a press conference at the White House on July 15, 2011. (Associated Press)

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Obama Debt Showdown_Live(2).jpg

President Obama makes an opening statement on the ongoing budget negotiations before a press conference at the White House on July 15, 2011. (Associated Press)

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Obama Debt Showdown_Live.jpg

From left: President Obama, Senate Majority Leader Harry Reid, Nevada Democrat, Senate Minority Leader Mitch McConnell, Kentucky Republican, and Senate Majority Whip Richard Durbin, Illinois Democrat, meet in the Cabinet Room of the White House on July 13, 2011, regarding the debt ceiling. (Associated Press)