Republican Speaker of the House John Boehner told reporters "it's going to be a hot weekend here in Washington D.C." as he announced he and President Barack Obama were not close to a deal to raise the debt ceiling. The House speaker "dismissed reports of a possible accord" on government spending cuts and revenue increases, according to Reuters.

Minutes before, Politico reports, at a closed meeting with House Republicans he indulged in a bit of gallows humor: he first announced that he and Obama had reached a sweeping deal to avert a debt default. But quickly added, "I'm just kidding." Everyone laughed, goes the report. Har! 

He then gave House Republicans a deadline of next Wednesday to pass legislation to lift the debt ceiling. 

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Adam Martin