that cost billions of dollars. we need an approach that makes serious cuts towards worthy programs, cuts i wouldn t make under normal circumstances. that s the heart of this approach. serious cuts balanced by new revenues. joining me now is mike va khaira. good saturday morning, mike. what happened here? how did things break down? reporter: the broke down, finger pointing and total collapse. they re going to be here at 11:00. the top floor leaders have narrowed the group somewhat. it used to be eight that came to the white house, but they re going to try to salvage something from these talks that collapsed last night when john boehner pulled the plug for the second time. remember, we re ten days away now from a potential financial catastrophe. good evening, everybody. reporter: after days of mounting hope for a break through, last night a public breakdown in the debt talks, leaving president obama visibly frustrated. i ve been left at the altar a couple of times.
under normal circumstances. that s the heart of this approach. serious cuts balanced by new revenues. joining me now is mike va khaira. good saturday morning, mike. what happened here? how did things break down? reporter: the broke down, finger pointing and total collapse. they re going to be here at 11:00. the top floor leaders have narrowed the group somewhat. it used to be eight that came to the white house, but they re going to try to salvage something from these talks that collapsed last night when john boehner pulled the plug for the second time. remember, we re ten days away now from a potential financial catastrophe. good evening, everybody. reporter: after days of mounting hope for a break through, last night a public breakdown in the debt talks, leaving president obama visibly frustrated. i ve been left at the altar a couple of times. reporter: he chided john boehner in unusually personal terms, suggesting he lacks the