The battle over an increase in the debt limit took a dramatic turn on Friday evening, as Speaker John Boehner and President Obama exchanged accusations over which side had negotiated in bad faith, with Mr. Obama summoning Congressional leaders to the White House for talks on Saturday.
"They will come down here at 11 o'clock tomorrow," the President said in a blunt and aggravated tone in the White House Briefing Room.
"I expect them to have an answer," on how best to solve this debt limit impasse.
"Wall Street will be opening on Monday and we'd better have some answers during the course of the next several days," Mr. Obama said.
In what became a thirty five minute news conference, President Obama told reporters his side of the story, charging that the Speaker had repeatedly moved the goal posts and reneged on deals that had been agreed to in their negotiations.
"I've been left at the altar a couple of times," by the Speaker, the President said.
Mr. Obama claimed that he had agreed to deals which were much more favorable to Republicans than Democrats and that Republicans walked away from all of his efforts.
"The question is, what can you say 'Yes' to?" Mr. Obama asked.
45 minutes later from the other end of Pennsylvania Avenue at the U.S. Capitol, Speaker Boehner gave his version of events, accusing the White House of moving the goal posts and reneging on deals that had been agreed to in their talks.
"Dealing with the White House is like dealing with a bowl of jello," the Speaker said, as he accused the President of doing all he could to avoid spending cuts.
Boehner said he had agreed to raise $800 billion in revenue over ten years, when suddenly the President yesterday demanded an additional $400 billion in taxes, which the Speaker said would be levied on the wealthy.
"It's the President who walked away from his agreement," Boehner said, adding that not once did the White House lay out an entire deal on the table for Republicans to consider.
Still, Boehner expressed confidence that there will be a deal, and that default will not be an option on August 2.
"I'm confident the Congress can act next week and not jeopardize the full faith and credit of the United States government," the Speaker said.
