Friday, July 22, 2011

President Obama: "We Have Run Out Of Time" As US Budget Negotiations Collapse Again


President Barack Obama said Friday he had summoned congressional leaders to the White House for a meeting on the debt ceiling Saturday after House Speaker John Boehner said he was walking away from the high-stakes discussions. Image courtesy of Reuters.

Grand Bargain Talks Collapse -- Wall Street Journal

WASHINGTON—President Barack Obama and House Speaker John Boehner tried for weeks to hatch a deficit-cutting deal that would fix the U.S.'s budget woes for decades. On Friday, the effort collapsed.

In a letter to his colleagues, Mr. Boehner said he has no longer decided to pursue such a deal with the president. He informed Mr. Obama Friday night.

Read more ....

More News On America's Debt Crisis

US budget negotiations collapse again -- Financial Times
Debt talks between White House, GOP leaders collapse -- Miami Herald
Boehner Ends Debt-Limit Talks With White House, Turns to Senate Leaders -- FOX News
John Boehner ends debt talks with White House in dispute over taxes -- L.A. Times
Debt Talks Crisis: Boehner, Obama Trading Blame -- ABC News/AP
Obama, Boehner at war over debt talk collapse -- CBS News
Obama: "We have now run out of time" on debt ceiling -- Reuters
Obama scolds GOP as debt talks break down: 'Where's the leadership?' -- L.A. Times
Boehner responds: 'W.H. moved the goal post' -- Politico
Boehner Pulls Out of Debt Talks -- Wall Street Journal
Boehner says will attend White House debt meeting -- Reuters

My Comment: If there is no movement over the weekend .... expect the markets to tank on Monday.

Update
: John Podhoretz agrees with my assessment.

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