John Boehner walks away from debt talks

"In the end, we couldn't connect. Not because of different personalities, but because of different visions for our country," Boehner said in a letter to colleagues. He said Mr. Obama " is emphatic that taxes have to be raised" and "adamant that we cannot make fundamental changes to our entitlement programs."

Boehner, Obama at war over debt talk collapse

"For these reasons, 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," he said. (Read the letter here)

House Republican leadership aides told CBS News that Boehner will work with the Senate leadership in an attempt to reach a deal that meets the GOP's two central requirements: That spending cuts are equal to or greater than debt limit increase and that there are no new taxes.

Without action, the debt limit will be breached on August 2 - 11 days from now - potentially plunging the U.S. economy into chaos. A GOP leadership aide said Boehner has set next Wednesday as the date by which the House must pass a bill in order to get it signed into law in time, with both the House and Senate presenting some sort of plan to members Monday.

Updated 6:05 p.m. Eastern Time

House Speaker John Boehner has walked away from negotiations with President Obama over a deal to raise the debt limit.

Boehner and the president have been seeking a "grand bargain" of perhaps $4 trillion in deficit reduction, but have faced stiff resistance from lawmakers in both parties. Most Republicans say they will not accept revenue increases in the deal, while most Democrats say any deal must include revenue increases as well as spending cuts. Democrats have also chafed at reports that the deal could include significant cuts to entitlement programs.

Despite rumors of a deal -- the alleged contours of which fueled anger from lawmakers -- Boehner said, "a deal was never reached, and was never really close." He said in his letter that "during these discussions, as in my earlier discussions, it became evident that the White House is simply not serious about ending the spending binge that is destroying jobs and endangering our children's future."

President Obama was scheduled to make a statement on the debt talks shortly.

CBSNews.com special report: America's debt battle

[sandrac47]

Speaker Boehner, who do you think you are? You are only concerned about the wealthy as usual. If I don't receive my Social Security check, it will be your fault, and I am sure the rest of Social Security recipients will feel the same. All Republicans only care about their pockets, it's always take from the people who struggle everyday just to make it. I am sick of you, it was the worst mistake ever made voting the Republicans in as majority. You aren't helping anything. I AGREE WITH OBAMAS PLAN. Ever since Obama has become President, the Republicans have done nothing but go against him, you have made him look bad in the eyes of the country, and I am sick of it. As far as I am concerned they need to get rid of the Republican party period. You talk all this good stuff, you care for the people who are middle class, and the seniors, and how you want to help them, but you never do. All you want to do, is take up where President Bush left off. This is my Pledge....If another Republican gets into the Presidential seat, I will never vote again. In the year of 2012, I will be voting for Obama, he is an excellent President and he does the middle class, and blue collar worker, small businesses and the elderly as well as our childrens education and the betterment of the county in his mind and heart. You need to get out, you are not helping anything, you are the destruction. OBAMA 2012!!!!!!!

[rrader26]

I am not one to usually share my thoughts on these types of matters, but being a resident of Ohio I am ashamed that our speaker can not see past his own wallet. I have to say that I agree with what the president has to say....Lets forget about D and R and get to business

[slatep]

Boehner's "I's" are too close together.

The only thing "my way or the highway" is going to accomplish is chaos.

Both Parties are using the deficit to try to divide and conquer.

It might fly in Washington, but I doubt it's going to work on the American public.

[jkelley76]

The true Ferengi (Republicans) have emerged out from under their cover. The Rules of Acquisition will be enforced, resistance is futile.

[4america-2]

STUP STUPID BOEHNER!!! GET YOUR ACT TOGETHER

[dantom39]

Great news walk away till they want to bargin cut cut cut cut cut cut

[slatep]

I just heard an elected politician say on TV that his last vote was "politically generated."

In other words his party didn't give a damn about what he or his constituents wanted; he HAD to vote this way to "preserve the solidarity of the Party".

What the hell kind of bu**sh** is this.

All these years I voted for people who I thought would do what was best for me and the Country.

Now I find out I just might as well not even bothered.

When the impeachment hearings were being held for Clinton; I had many conversations with my Congressman about this and expressed myself in no uncertain terms.

When the hearings were over; I got a four page letter from him stating "that in the end I had to vote my conscience".

I promptly called him and said "Wrong answer. You should have voted the consciences of your constituents".

GUESS WHAT FOLKS??

We have voted into Office a bunch of toadies who must do the bidding of the Party leaders and to hell with the people who dutifully send their taxes to us every week for us to p*ss down ratholes.

It's not like these people are outstanding citizens who value honesty, integrity and morals.

There are just as many scandals in DC as there are any place else.

Some fool who didn't pay his own income taxes is leading one of the financial agencies for the entire country.

"I cheated on my wife", "I posess porn and have it on my office computer", "I'm gay" "I embezzle funds from my campaign war chest", and the list goes on and on.

I do not plan to vote for anyone who already holds Office in 2012.

I intend to write in the names of people I can trust.

The only way to stop RE-OFFENDERS is to not vote for them.

I just wish we didn't have to wait until 2012 to clean out the sewers of the scum currently inhabiting them.

[basbury]

Boehner is representing responsible people in this Country by stopping this 'out of control' Democratic gang that is occupying the White House until Jan. 2013. Over 800 days without a budget--2 yrs. of reckless spending--bailouts, more entitlement programs, so called 'stimulus programs and the President or the Senate Majority leader won't produce a plan that can be voted on by anyone! Democrats had complete control of both houses, the Senate and the White House for 2 yrs.--look where we are now--High unemployment, out of control debt threatening the credit rating of the U.S. Govt' --Thank God we have some responsible people like Speaker Boehner to put the brakes on this bunch of irresponsible spendthrifts! Nov. 2012 can't get here fast enough so we can kick this bunch out of the elected offices they now hold!

[cshudock]

Where was mr. Boehner's concern for fiscal responsibility and American good when he voted to raise the debt ceiling the last five times during the Bush years? Where was his concern for borrowing billions to pay for two wars? It's time for him to do his job and work with the President, compromise on the budget cuts and revenue increases and get this country moving again. The arguement that higher taxes will hinder job creation seems crazy in light of the fact that the current low tax rates don't seem to be creating jobs. Boner is only good at crying and running away from his fiscal responsibilities. The economy tanked and the deficit grew during the Bush years and Obama was handed an economic mess.

[1pheasant1]

"John Boehner walks away from debt talks."

Caught between satisfying the extreme elements in his party or doing what's right for the American public, John plays it safe and walks away from the table. Coward!

[jmckee38]

We do not need another committee to solve the budget problem. Why are they just discussing this issue when they have had one year to solve this problem. Why are they not talking about cuts for foreign aid and take the penalties out for the American Tax Payer. Also, does everyone have the same speech to use when interviewed by the press? My theme until election is vote OUT the encumbent!!!!

[Silvermaran]

Yes we need lots of committee's like he hired to sniff out all the fraud so they can place the federal funds where they belonged for the last 30 yrs. instead of the pockets of thieves that only used those funds to steal some more...That's what rocked the boat in the first place...Time to start bailing boys. Your going down. Obama 2012.