House Speaker John Boehner called President Obama Friday evening to tell him he is dropping out of the debt talks. He wrote a letter to his Republican colleagues that says, "we couldn’t connect." In the letter, Speaker Boehner said a deal must "implement the principles" of "Cut, Cap and Balance," not increase taxes, and make “fundamental changes” to entitlements. “For these reasons, I have decided to end discussions with the White House,” Boehner wrote to his colleagues.
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