Boehner quits debt talks with Obama

The president calls for emergency weekend meetings as taxes remain a sticking point.

White House talks to avert a disastrous early August debt default teetered on the edge of collapse late Friday as Republican House Speaker John Boehner abruptly quit the negotiations.

US President Barack Obama condemned Boehner's decision and angrily called top lawmakers to the White House for emergency negotiations at 11:00 am (1500 GMT) Saturday, warning "we have run out of time" with an August 2 deadline looming.

"I expect them to have an answer in terms of how they intend to get this thing done over the course of the next week. The American people expect action," the president said at a hastily called public appearance.