If you read your Constitution, you’ll find that Congress is responsible for the debts, the spending, and the taxes, not the President.
The President can ask for a budget, but it's up to Congress to appropriate the money. All debts and deficits that have accrued have originated in Congress. All taxes that are in place originated in Congress.
They made the laws and it's up to them to change the laws if they want to. That's where the debate starts. Right now they passed a budget that spends more money than we have and they need to approve borrowing that money or change the law that they made that requires the money.
They need to sit down and decide which part of the budget that they passed shouldn't have been passed. It's up to them to change the law or to borrow the money. The question is: which law and which funding is to be changed.
When the little boys, inside the men, decide to walk out on meaningful talks it's like saying “It's MY ball and I'm taking it home”. It's hard to debate the issues with only one debater. Any agreement made cannot be all one sided, compromise is necessary to reach a workable solution.