Political leaders plan another day of deficit-reduction talks

White House communications director Dan Pfeiffer said on his Twitter account on Sunday night that congressional leaders will return to the White House for further negotiations on Monday. At 11 a.m. that same morning, President Barack Obama will hold a press conference in the White House briefing room, according to his official schedule.

These announcements are the first formal fall-out of Sunday's night talks on the subject, led by the president and involving top politicians from the House and Senate.

House Minority Leader Nancy Pelosi said afterward that Democrats are "still hopeful for a large bipartisan agreement," one that will do "no harm to the middle class or to economic growth (and) protect Medicare and Social Security beneficiaries."

Don Stewart, a spokesman for Senate Majority Leader Mitch McConnell, meanwhile said that he found it "baffling that the president and his party continue to insist on massive tax hikes in the middle of a jobs crisis."