Speaker Boehner has sent a letter to President Obama that he is suspending negotiations because the President is insisting on a package that includes some revenue to protect the most vulnerable Americans. Boehner says he is going to begin conversations with Senate leaders in an attempt to formulate an acceptable deal.
IMO, John Boehner has decided he is going to play President and force the Democrats to accept a deal the country clearly does not want.
The President said in a press conference at approx 6:00 pm That he can assure the American public that one way or another, the United States will not default on it's debts. He said "we have run out of time", and he has summoned the Congressional leadership to the White House at 11:00 AM Saturday, and he expects them to have some solutions to the issue.
John Boehner is going to hold a press conference at 7:15 this evening to lay out his position.
I think the Republicans are putting themselves in a very, very bad position. The American people are not going to tolerate being bullied by the Tea Party radicals.
We'll see how this historical battle plays out, but I'm sure Barack Obama will come out of this looking very good when the smoke clears