From the New York Times:
WASHINGTON — President Obama and House Republicans failed to reach agreement on a six-week extension of the nation’s borrowing authority during a meeting Thursday at the White House, but both sides agreed to keep talking and the Republican offer was seen as a first step toward ending the budget standoff.
Twenty Republicans, led by Speaker John A. Boehner, went to the White House at Mr. Obama’s invitation after a day of fine-tuning their offer to increase the Treasury Department’s authority to borrow money to pay existing obligations through Nov. 22. In exchange, they sought the president’s commitment to negotiate a deal for long-term deficit reduction and a tax overhaul.
“The president didn’t say yes, didn’t say no,” said Representative Paul D. Ryan, Republican of Wisconsin. “We’re continuing to negotiate this evening.”
He added: “We put an offer on the table. We had a long, frank conversation about it. We agreed to continue talking and continue negotiating.”