By Brendan Loy
CNN Breaking News:
House Speaker John Boehner has ended debt talks with President Barack Obama, telling fellow Republican House members in a letter that he will “begin conversations with the leaders of the Senate in an effort to find a path forward.”
The president said his administration had offered “an extraordinarily fair deal” to cut expenditures and raise revenues, in return for Congress agreeing to hike the nation’s debt ceiling. [Per a Washington Post breaking-news alert, Obama added that "if it was unbalanced, it was unbalanced in the direction of not enough revenue."] But he said that Boehner “left (him) at the altar.”
Obama says he called congressional leaders from both parties to the White House on Saturday morning to “explain to me how we are going to avoid default” on the nation’s debt.
“We have run out of time,” Obama said.
We are so screwed.
P.S. Couldn’t the talks have broken down before the markets closed for the weekend? A drop of, oh, I don’t know, 500 points in the Dow in the final hours of trading on a Friday might have gotten Congress’s attention heading into the weekend…