The Obama administration and a group of Republican senators on Thursday abandoned efforts to hammer out a budget deal and avoid a showdown over the national debt, saying they had failed to resolve their long-standing dispute over taxes.
"It's very evident that there just isn't common ground at present, and we've all agreed there's no reason for these talks to continue," Sen. Bob Corker, a Republican, said after attending the group's final session at the White House.
Asked what happens next, Corker said, "I have no idea."