"President Barack Obama drew parallels between the debt showdown in Congress and a landmark agreement his administration has reached to ramp up fuel economy standards.

Flanked by 11 auto executives and a display of some of the most cutting-edge vehicles on the road (or soon to be), Obama said that the industry's decision earlier this week to accept a 54.5 mpg CAFE limit underscores how hard bargains are won.

'This agreement ought to serve as a valuable lesson for leaders in Washington,' Obama said at the Washington Convention Center Friday morning. 'This agreement was arrived at without legislation. You are all demonstrating what can happen when people put aside differences.'"

Darren Samuelsohn reports for Politico July 29, 2011. [2]