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House Speaker John Boehner, R-Ohio, on Friday said he ended negotiations with President Obama on a so-called grand bargain to achieve sizable deficit reduction in the context of raising the debt ceiling. Boehner informed all House Republicans in a letter released at 6 p.m. EDT. "A deal was never reached and was never really close," Boehner wrote. "I have decided to end discussions with the White House and begin conversations with the leaders of the Senate in an effort to find a path forward." Boehner blamed Obama's demand for higher taxes and opposition to "fundamental changes" to entitlement programs such...

WASHINGTON (AP) -- President Barack Obama for the first time is allowing for the possibility that the U.S. may default on its financial obligations. At a hastily arranged White House appearance on Friday, Obama said: "If we default, then we're going to have to make adjustments."

I just thought this name fit Obama right. haha An economic terrorist!?

bravo. he stood tall. sounds like Obama tried to double cross on the goal line and he said NO. now, he has largely made Obama irrelevant and will work with congress

House Speaker John Boehner abruptly broke off talks with President Barack Obama Friday night on a deal to cut federal spending and avert a threatened government default, sending compromise efforts into an instant crisis. Within minutes, an obviously peeved Obama virtually ordered congressional leaders to the White House for a Saturday meeting on raising the nation's debt limit. "We've got to get it done. It is not an option not to do it," he declared.

WASHINGTON, D.C. - Today, House Majority Leader Eric Cantor (R-VA) issued the following statement on the debt limit negotiations: "Tonight, months after we had begun negotiations with President Obama, Vice President Biden, and the Administration, Speaker Boehner and I are ending discussions with the White House and beginning conversations with Senate leaders in the hopes of finding a solution to the debt limit debate in order to avoid default. Throughout the months of discussions, we have worked to identify real spending cuts, binding budget reforms, structural changes to save our entitlement programs, and significant debt reduction. Unfortunately, time and again...

CNN anchor Fredricka Whitfield apparently thinks some Republican players in the debt ceiling debate are concerned that President Obama is conceding too much. During the 12 p.m. EDT hour Friday, Whitfield alleged that many important players from both parties think Obama may be "caving" to Republicans. "You know, there are a lot of players who are very concerned – Democrats and Republicans who are concerned – and particularly Democrats are concerned that the president may be giving up too much in order to come about a deal," Whitfield remarked while stumbling over her words. [Video below the break.] Whitfield explained...

Debt Talks: The House-passed spending control plan rejected by the Senate is exactly what Republicans were elected to do last November. The president's obsession with tax increases repudiates the will of the people. Like a headmaster in chief of some Dickensian orphanage, President Obama earlier this month told us to "eat our peas" — meaning accept the tax increases we know are good for us. Socialism has always come down to contempt for the will of the people, to a benevolent elite force-feeding its enlightened policies down the throats of the masses. Karl Marx himself once dismissed free elections as...

In an eye-poppingly nasty and derranged press conference, Obama ordered Boehner and McConnell to appear before His Majesty tomorrow morning (7/23) at 1100 (that's 11:00, military time). The conference was called by The One to express his displeasure with the Repubs because they refuse to accept almost $2 trillion in new spending in order for the debt ceiling to be raised "until 2013" so Obama doesn't have to deal with that issue as he runs for reelection. Stay tuned.

WASHINGTON (AP) -- House Speaker John Boehner has broken off talks with President Barack Obama on getting a budget deal to avert a government default.

Video - Reid: Cut, Cap And Balance Is "Over, Done And Dead" From the White House Dossier article:An analysis by former Bush National Economic Council Director Keith Hennessey of the Senate “Gang of Six” proposal finds that the plan would raise taxes by $2.3 trillion over ten years. The authors of the Gang of Six Plan themselves state that CBO would score the plan as reducing taxes by $1.5 trillion. “If CBO scored this plan, it would find net tax relief of approximately $1.5 trillion,” the Gang states. According to Hennessey, this is a carefully worded phrase, because CBO scores...

WASHINGTON — In the ongoing deficit negotiations, Sen. Dick Durbin (D-Ill.) is at all the White House meetings and is one of the bipartisan “Gang of Six.” Then there is freshman Rep. Joe Walsh (R-Ill.), who is a leading voice of anti-President Obama tea party conservatives. Two Illinoisans, a study in contrasts. Durbin, the number two leader in the Senate, is a voice of reason as an Aug. 2 default deadline looms — willing to take on Democratic sacred cows of Social Security, Medicare and Medicaid. A deal, Durbin told Illinois reporters on a conference call Wednesday, “requires spending cuts,...

<p>In an unusual display of emotion, President Obama angrily responded to House Speaker John A. Boehner's abrupt withdrawal from talks on a debt ceiling increase, and summoned congressional leaders to the White House on Saturday for emergency talks to plot a new course before the Aug. 2 deadline.</p>

An enraged Barack Obama just took to the nation’s airwaves to announce his effort to strike a deal with Republican Speaker of the House John Boehner has fallen apart. Perhaps for the first time in American history, this president is literally using this press conference to create a financial panic over the weekend about the opening of the markets on Monday. He is warning of disaster on Monday. Clearly, he wants to use this as leverage to frighten the GOP into passing the plan proposed by Senate Minority Leader Mitch McConnell, which will push the debt ceiling problem into 2013,...

According to a recent poll conducted by Generation Opportunity, a majority of young Hispanics believe that the federal government should cut spending and liberate the private sector. As Hispanics historically have voted Democrat and typically supported the Democrats' non-social agendas, the results mark a significant change. The Blaze notes: "The survey, with a reported margin of error +/- 4 points, reveals 57 percent of young Hispanics agree that “if taxes on business profits were reduced, companies would be more likely to hire.” Likewise, a staggering 70 percent of Hispanic young adults say they would “decrease” federal spending if given the...

As I have written and argued repeatedly for months, President Obama wants a crisis. He plans to use a crisis to seize even more power for himself and for the government. Now he is a significant step closer to his goal. Despite his finger-pointing con-job in his nasty press conference this afternoon, Obama is the one who deliberately torpedoed the budget talks. He is the one who has yet to put an actual plan on the table. He is the one who refused to even let GOP negotiators talk. He is the one who insisted through most of the year...

The Treasury's Aug. 2 deadline for reaching the federal borrowing limit is rapidly approaching, but prospects of a budget deal remain unclear. House Republicans seem resolved to shun compromise until that deadline, perhaps until well beyond it. But dire warnings about financial Armageddon if the deadline is breached seem vastly exaggerated. As House Republicans proceeded to pass their Cut, Cap, and Balance legislation, President Obama has shifted his position with increasing frequency. He initially painted himself into a corner by ruling out a short-term budget deal. Later he embraced the McConnell plan, only to soon switch in favor of the...

Incensed at reports that President Obama and House Speaker John Boehner (R-Ohio) may be nearing agreement on a debt-ceiling deal that would involve cuts to federal entitlement programs but no immediate provisions to raise taxes, labor and liberal groups are urging their members to rally against such a plan. On Friday, a coalition of national groups including MoveOn.org, Democracy for America, the Progressive Change Campaign Committee and the AFL-CIO organized an “emergency call-in day,” urging members in an e-mail to contact Democratic members of Congress and tell them to “keep their promises to reject any debt deal that slashes programs...

Tonight, while I like so many Americans have been dealing with three-digits heat, I have also have become HOT for another reason. Tonight I have heard that there has been a break-down in discussions on the federal debt and the debt ceiling, in which the deadline is coming up very fast. What I had also have heard is a USA President, Barack Hussein Obama, who has more and more become impossible to listen and to understand why he does the things he does. In his latest trip to the mike, he speaks like it is NOT HIS FAULT. President Obama,...