18:48 ET<\/span><\/span><\/p>\nRepublican House Speaker John Boehner has walked away from crunch debt ceiling talks at the White House with US President Barack Obama.<\/p>\n
Mr Obama said Mr Boehner had rejected an “extraordinarily fair deal” that would have included $650bn (\u00a3400bn) of cuts to entitlement programmes.<\/p>\n
Mr Obama said he had been willing to take “a lot of heat” from his party.<\/p>\n
Mr Boehner said in a letter circulated to the Republican rank and file: “In the end, we couldn’t connect.”<\/p>\n
“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,” the letter said.<\/p>\n
‘Call not returned’<\/span><\/p>\nThe talks were aimed at avoiding what analysts say would be a financially catastrophic US debt default on 2 August.<\/p>\n
“It is hard to understand why Speaker Boehner would walk away from this kind of deal,” President Obama said at a news conference on Friday evening.<\/p>\n
“There are a lot of Republicans who are puzzled as to why it couldn’t get done,” he added.<\/p>\n
Senior Republican aides said President Obama and congressional Republicans had been close to reaching a deal last week, but that the White House had changed its demand to call for higher taxes.<\/p>\n
White House correspondents said Mr Obama looked visibly angry as he told reporters that until “sometime early today when I couldn’t get a phone call returned, my expectation was that Boehner was going to go to his caucus” to help finalise a deal.<\/p>\n
Despite the breakdown in talks, Mr Obama said on Friday that he was confident the $14.3tn (\u00a38.7tn) limit on US borrowing would be raised by the approaching deadline.<\/p>\n
Republicans have been unwilling to consider raising new tax revenues to counter the growing budget deficits.<\/p>\n
The Democrats have been opposed to cutting popular healthcare and welfare programmes for pensioners and the poor.<\/p>\n<\/div>\n
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