04/06/2011 06:38 pm ET | Updated Jun 06, 2011

Government Shutdown Threat Prompts Meeting At White House

WASHINGTON (AP) -- President Barack Obama says late-night budget talks with the leaders of Congress have helped to narrow the issues, but there is no deal yet to avert a shutdown.

Obama spoke after a hastily arranged late-evening meeting in the Oval Office with House Speaker John Boehner and Senate Majority Leader Harry Reid. The three met for roughly and hour and 15 minutes.

The calling of the session itself underscored the stakes of the deepening political fight as time grew short.

The budget deadlock threatens to shut down much of the federal government starting Saturday if a deal is not reached by Friday.