U.S. congressional leaders will meet again with President Barack Obama Tuesday, with no signs of progress on a deal to reduce the deficit and raise the government’s borrowing limit.

Tuesday’s talks come three weeks before the August 2 deadline, when the U.S. Treasury Department says the country will run up against the $14.3 trillion debt limit and be forced to default on some payments.

The president has promised daily meetings until a deal can be reached, but Mr. Obama’s Democratic Party and opposition Republicans still appear to be far from a deal. The president has proposed a $4 trillion package of spending cuts and increases in revenue, while the Republicans say they will not allow tax increases and want to focus only on slashing government spending.

Mr. Obama said at a televised news conference Monday it is time to stop playing politics and make a deal. He said he will refuse to sign any temporary measures to resolve the debt crisis.

The speaker of the House of Representatives, Republican John Boehner, said Monday that no deal can pass the House unless it rules out tax increases and cuts spending. Conservatives say it makes no sense to raise taxes on those Americans who are expected to invest in the economy and create jobs.

Democrats strongly oppose cuts in popular social programs for the poor and elderly. They say increasing taxes on the wealthy is essential because the government badly needs more revenue to close the budget gap.

Treasury Secretary Timothy Geithner has said that failing to raise the $14.3 trillion legal limit on what the government can borrow to pay its debts would cause “catastrophic damage” to the U.S. economy.