If he vetoed and the U.S. defaulted, the ensuing horror show would likely guarantee he’d be lucky to get 10% of the vote in 2012.

WASHINGTON, Jul 24, 2011 (UPI) — President Barack Obama will veto any plan that fails to raise the U.S. debt ceiling through 2013, his chief of staff, William Daley, said Sunday.

Meanwhile, Republicans and Democrats failed to reach agreement by Sunday afternoon. Even worse, congressional leaders appeared to moving independently on their own to come up with competing plans to handle the debt and raise the debt ceiling, without only eight days until the United States defaults, Politico reported.

Senate Majority Leader Harry Reid, D-Nev., began to draft his own legislation to cut at least $2.5 trillion to match an extension of the debt limit through the 2012 election, aides said.

Reid and House Minority Leader Nancy Pelosi got together with President Barack Obama Sunday evening. Afterward, a White House official said only that Obama “received an update on the state of negotiations on the Hill from Leader Pelosi and Leader Reid, and the leaders and the president reiterated our opposition to a short-term debt limit increase.”

House Speaker John Boehner, R-Ohio, told his fellow GOP leaders in a conference call that a debt deal with Obama is not the way to go, Politico reported. He said a plan that “reflects the principles” of the conservative “Cut, Cap and Balance” plan the Senate already has rejected — and Obama has promised to veto as well should it ever reach his desk — should be the basis for any legislation coming out of the House.