Federal Deficit, John Boehner | featured news

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.

House of Representatives Speaker John Boehner broke off talks with President Barack Obama on Friday and said he will begin negotiations with Senate leaders aimed at meeting an August 2 deadline to avert an unprecedented U.S. debt default.

Talks to reach a more ambitious deficit-reduction deal effectively broke down on Saturday, House Speaker John Boehner said, as he and fellow Republicans resisted any White House attempts that could increase taxes.

The Speaker of the House said that there were still significant obstacles in the way of an agreement.

An unusual round of golf won't solve the Republican-Democratic budget battles, but it could lead to better relations between the White House and Congress. The president prefers a laid-back round on a Sunday morning.

In the run-up to a vote, Speaker John Boehner predicted Thursday a $38 billion package of spending cuts would clear the House with a bipartisan majority and said it marks a first step in a longer Republican campaign to rein in federal deficits