NO BUDGET DEAL Reached After Dramatic All-Night Negotiations

Obama on the phone

America is no closer to having a budget after all-night negotiations, with a deadline looming on Friday, a Republican tells Reuters.

Obama, Boehner and Reid met late last night to try to find a compromise.

The president said last night: “At a time when the economy is still coming out of an extraordinarily deep recession, it would be inexcusable — given the relatively narrow differences when it comes to numbers between the two parties — that we can’t get this done.”

Adminstration leader like NEC Director Gene Sperling are said to have made calls through the night.

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