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| Version 0 | Version 1 |
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| US debt talks deadlock drags on | US debt talks deadlock drags on |
| (about 2 hours later) | |
| President Barack Obama has told lawmakers he wants agreement on a US debt deal in 24-36 hours, Republican and Democratic aides say. | President Barack Obama has told lawmakers he wants agreement on a US debt deal in 24-36 hours, Republican and Democratic aides say. |
| A fifth consecutive day of cross-party negotiations at the White House between President Obama and congressional leaders failed to make a breakthrough. | A fifth consecutive day of cross-party negotiations at the White House between President Obama and congressional leaders failed to make a breakthrough. |
| The president plans to hold a news conference to discuss the troubled talks at 1100 (1500GMT) on Friday. | The president plans to hold a news conference to discuss the troubled talks at 1100 (1500GMT) on Friday. |
| The US must raise its $14.3tn (£8.9tn) debt ceiling to borrow beyond 2 August. | The US must raise its $14.3tn (£8.9tn) debt ceiling to borrow beyond 2 August. |
| Failure to reach a deal would rattle a world economy still trying to put the 2008 downturn behind it, analysts say. | Failure to reach a deal would rattle a world economy still trying to put the 2008 downturn behind it, analysts say. |
| 'Childish' | 'Childish' |
| On Thursday, Standard & Poor's became the second of the major credit rating agencies to place US debt under review, citing an increasing risk of a payment default. | On Thursday, Standard & Poor's became the second of the major credit rating agencies to place US debt under review, citing an increasing risk of a payment default. |
| Another ratings agency, Moody's, warned a day earlier that it might cut Washington's triple-A debt rating. | Another ratings agency, Moody's, warned a day earlier that it might cut Washington's triple-A debt rating. |
| President Obama said that if congressional leaders could not "find agreement on the path forward" in the next 24-36 hours, the negotiations would have to continue into the weekend, according to Democratic and Republican aides. | President Obama said that if congressional leaders could not "find agreement on the path forward" in the next 24-36 hours, the negotiations would have to continue into the weekend, according to Democratic and Republican aides. |
| The political impasse boiled over on Thursday to the Senate floor, where Majority Leader Harry Reid, a Democrat, called House Republican Leader Eric Cantor "childish". | The political impasse boiled over on Thursday to the Senate floor, where Majority Leader Harry Reid, a Democrat, called House Republican Leader Eric Cantor "childish". |
| Mr Reid said Mr Cantor "has shown he shouldn't even be at the table" in the debt talks at the White House. | Mr Reid said Mr Cantor "has shown he shouldn't even be at the table" in the debt talks at the White House. |
| Mr Cantor reportedly told President Obama during Wednesday evening's negotiations that the tax rises sought by Democrats simply were not going to happen. | Mr Cantor reportedly told President Obama during Wednesday evening's negotiations that the tax rises sought by Democrats simply were not going to happen. |
| He is also said to have urged the president to accept a short-term deal instead of a budget that would carry through to the presidential election in November 2012. | He is also said to have urged the president to accept a short-term deal instead of a budget that would carry through to the presidential election in November 2012. |
| That is said to have prompted Mr Obama to say: "Enough is enough... I'll see you all tomorrow," before leaving the room. | That is said to have prompted Mr Obama to say: "Enough is enough... I'll see you all tomorrow," before leaving the room. |
| US Federal Reserve chairman chief Ben Bernanke warned a Senate panel on Wednesday that a default would cause a "major crisis", adding it would be a "self-inflicted wound". | US Federal Reserve chairman chief Ben Bernanke warned a Senate panel on Wednesday that a default would cause a "major crisis", adding it would be a "self-inflicted wound". |
| President Obama needs the Republican-led House of Representatives and Democratic-held Senate to agree a deal to trim the US deficit, and allow Washington to borrow beyond the 2 August deadline. | President Obama needs the Republican-led House of Representatives and Democratic-held Senate to agree a deal to trim the US deficit, and allow Washington to borrow beyond the 2 August deadline. |
| He has said he is willing to countenance cuts to social safety-net programmes dear to Democrats if certain tax breaks are eliminated. | |
| Republicans have rejected the latter proposal, saying that would stifle investment and job growth. | Republicans have rejected the latter proposal, saying that would stifle investment and job growth. |