House Speaker John Boehner held a news conference late Friday night to address his decision to pull out of negotiations  with President Obama and shift his focus to working with the Senate leadership in order to cut a deal to raise the debt ceiling, explaining that the talks broke down because "the White House moved the goal post."

Boehner said the discussions with the president broke down for two reasons - additional tax increases and a lack of seriousness on the part of the White House to make "the tough choices that are facing our country on entitlement reform."

"We had an agreement on a revenue number -- a revenue number that we thought we could reach based on a flatter tax code with lower rates and a broader base that would produce more economic growth, more employees and more taxpayers, and a tax system that was more efficient in collecting the taxes that were due the federal government," Boehner, R-Ohio, said. "There was an agreement on some additional revenues until [Thursday] when the president demanded $400 billion more, which was going to be nothing more than a tax increase on the American people, and I can tell you that Leader Cantor and I were very disappointed in this call for higher revenue."