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)
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)
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)
President Obama sits with House Speaker John Boehner (left), Ohio Republican, Senate Minority Leader Mitch McConnell (second from right), Kentucky Republican, and Sen. Dick Durbin, Illinois Democrat, as he meets on July 13, 2011, with Republican and Democratic leaders regarding the debt ceiling in the Cabinet Room of the White House. (Associated Press)
**FILE** President Obama acknowledges family members and friends of U.S. Army Sgt. First Class Leroy Arthur Petry of Santa Fe, N.M., during a ceremony at the White House during which Petry was awarded the Medal of Honor for his valor in Afghanistan. (Associated Press)
President Obama greets Sgt. 1st Class Leroy Arthur Petry before awarding him the Medal of Honor during a ceremony in the East Room of the White House on Tuesday. Sgt. Petry is the ninth service member to have been named a recipient of the Medal of Honor for actions in Afghanistan and Iraq.
Sen. Orrin Hatch, R-Utah, ranking Republican on the Senate Finance Committee, center, speaks during a news conference on Capitol Hill in Washington, Thursday, June 30, 2011, to charge the Obama Administration of political tactics that undermine pending trade agreements with Colombia, Panama and South Korea. From left are: Sen. Michael B. Enzi, R-Wyo.; Senate Minority Whip Jon Kyl of Ariz.; Hatch; Sen. John Thune, R-S.D.; and Sen. Pat Roberts, R-Kan. (Associated Press)
President Obama, followed by White House press secretary Jay Carney, arrives at the press briefing room of the White House in Washington on Thursday, July 7, 2011, to talk about the ongoing budget negotiations. (AP Photo/Pablo Martinez Monsivais)