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Ronald Reagan

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Rep. Cathy McMorris Rodgers, Washington Republican, said that presidents have routinely negotiated with lawmakers in the past to reach agreements to increase borrowing, from Ronald Reagan to Bill Clinton to Mr. Obama himself in 2011.

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President Ronald Reagan and House Speaker Tip O'Neill. (credit: Reagan Library)

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** FILE ** “We must act today in order to preserve tomorrow,” President Reagan said during his first inaugural address, Jan. 20, 1981. (Associated Press)

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Ronald and Nancy Reagan helped design their 4,764-square-foot, four-bedroom, four-bath ranch house in the tony Pacific Palisades neighborhood in west Los Angeles. The house is for sale for $4,999,000. (Photo courtesy of Coldwell Banker)