Update: Insisting that he would be "happy" to force another government shutdown if Democrats don't accede to his demands that the next funding bill include $5 billion earmarked for construction of his border wall, Trump reiterated that he will make sure the wall gets built 'no matter what' following his Tuesday morning meeting with Pelosi and Schumer, which, as expected, yielded no discernible progress toward a compromise. However, as some analysts pointed out, Trump has risked a political backlash by openly courting blame for a shutdown, should one come to pass.

TRUMP THREATENS U.S. GOVERNMENT SHUTDOWN IF WALL DEMAND NOT MET

TRUMP SAYS PELOSI IS IN TOUGH SITUATION FOR NEGOTIATING FUNDING

TRUMP SAYS `I WILL BE THE ONE TO SHUT IT DOWN' IF NO WALL

TRUMP SAYS HE'D BE PROUD TO SHUT DOWN GOVT OVER BORDER WALL

According to BBG's Jennifer Jacobs, an impromptu post-meeting press conference devolved into a 'wild scene' as Trump and his Democratic opponents engaged in some vitriol-soaked sniping.

Trump calls the White House pool reporters into the Oval Office for unscheduled comments as he meets with Dem leaders. Chief of Staff John Kelly is in room. — Jennifer Jacobs (@JenniferJJacobs) December 11, 2018

Trump, in Oval with Pelosi and Schumer, says they may not have an agreement today on southern border wall funding. "We probably won’t”



Pelosi: "The American people recognize we must keep government open.” — Jennifer Jacobs (@JenniferJJacobs) December 11, 2018

PELOSI: “I don’t think you should have a debate in front of the press." — Jennifer Jacobs (@JenniferJJacobs) December 11, 2018

WILD OVAL SCENE

PELOSI: He doesn’t have the votes in House for wall.

TRUMP: "Nancy, I do.” Adds we need border security.

PELOSI: Of course we do.

SCHUMER: WaPo gave you Pinocchios about how much of wall's built. You want to shut govt down.

TRUMP: If don’t get what we want yes. — Jennifer Jacobs (@JenniferJJacobs) December 11, 2018

Trump insisted that he has the votes for the Wall in the House, but the trouble is the Senate, where he would need 10 Democratic votes. Pelosi said, if he's so confident, why doesn't he go ahead and do it. Trump replied that he didn't want to waste his time in the House if the bill would be DOA in the Senate.

Trump tells Pelosi he would have the wall approved "in two seconds" if he had the votes in the Senate — Chad Pergram (@ChadPergram) December 11, 2018

Earlier reports said Pelosi and Schumer had planned to offer Trump $1.3 billion in funding for a reinforced 'border fence' as a counter to his demands for $5 billion in funding for the wall. Trump has apparently rejected that proposal.

Stocks appeared to break lower on the headlines, as anxieties about another shutdown are adding to an already long list of market-negative risks:

And the Treasury Bill curve has steepened drastically around the potential shutdown date (12/13 at 2.025%, 12/26 at 2.230%)

* * *

Lawmakers are furiously negotiating to try and strike a compromise that would avert a partial government shutdown (what would be the third since Trump's inauguration), but President Trump is digging in his heels and demanding that any funding bill set aside at least $5 billion for his promised border wall in what looks to be a last-ditch gambit to fulfill one of his most grandiose campaign promises before Democrats take the House in January.

And just in case Democratic leaders were hoping they could push through another compromise capitulation (like they did earlier this year), Trump issued a series of browbeating tweets Tuesday morning warning accusing Democrats of hypocrisy by reminding the world that both Nancy Pelosi and Chuck Schumer voted to fund the construction of a border barrier back in 2006 (they voted for a bill that, as Politifact reminds us, wasn't all that different from what Trump has proposed).

Between the Wall prototypes and the renovations that have already been approved by Congress and the Trump Administration, Trump said many Americans don't realize how much of the wall has already been built. And if Democrats don't give Trump what he wants, the president said he's prepared to do an end-run around Congress and order the military to build the wall.

Despite the large Caravans that WERE forming and heading to our Country, people have not been able to get through our newly built Walls, makeshift Walls & Fences, or Border Patrol Officers & Military. They are now staying in Mexico or going back to their original countries....... — Donald J. Trump (@realDonaldTrump) December 11, 2018

.....Ice, Border Patrol and our Military have done a FANTASTIC job of securing our Southern Border. A Great Wall would be, however, a far easier & less expensive solution. We have already built large new sections & fully renovated others, making them like new. The Democrats,..... — Donald J. Trump (@realDonaldTrump) December 11, 2018

....however, for strictly political reasons and because they have been pulled so far left, do NOT want Border Security. They want Open Borders for anyone to come in. This brings large scale crime and disease. Our Southern Border is now Secure and will remain that way....... — Donald J. Trump (@realDonaldTrump) December 11, 2018

.....I look forward to my meeting with Chuck Schumer & Nancy Pelosi. In 2006, Democrats voted for a Wall, and they were right to do so. Today, they no longer want Border Security. They will fight it at all cost, and Nancy must get votes for Speaker. But the Wall will get built... — Donald J. Trump (@realDonaldTrump) December 11, 2018

....People do not yet realize how much of the Wall, including really effective renovation, has already been built. If the Democrats do not give us the votes to secure our Country, the Military will build the remaining sections of the Wall. They know how important it is! — Donald J. Trump (@realDonaldTrump) December 11, 2018

Trump is expected to meet with Pelosi and Schumer on Tuesday for face-to-face budget talks as the Dec. 21 deadline is less than two weeks away.