Watch: Boehner Responds to Obama on Collapse of Debt Negotiations

Just minutes after President Obama responded to the collapse in debt negotiations with House Speaker Boehner, Boehner responded with a press conference of his own:

Boehner abruptly halted talks with Obama late Friday on a deal to cut spending and prevent a government default. Boehner alleged Republicans and Democrats are worlds apart in their respective views for the country.

But during the press conference, Boehner said he believes congressional leaders will be able to avert a government default despite the collapse in talks with the President.

Boehner accused Obama of "moving the goal posts" by demanding $400 billion in tax increases in addition to $800 billion in revenues that might have been reaped through a rewrite of the tax code.

The House Speaker said he plans to attend a White House meeting Saturday with a view to finding a fallback plan as long as spending cuts of a commensurate size are part of the deal.