The President is about to make an appearance in the White House briefing room to address the latest developments in the debt talks. Watch live.

Meanwhile, Speaker John Boehner has announced he is breaking off negotiations with the President on a grand bargain to raise the debt ceiling and cut spending and increase revenue. Here’s Boehner’s letter to his members.

David Kurtz

David Kurtz is Managing Editor and Washington Bureau Chief of Talking Points Memo where he oversees the news operations of TPM and its sister sites.