Boehner debt ceiling plan

After hours of trying to get enough votes, the Republicans who control the House of Representatives put off action for the night and scheduled an emergency meeting for Friday morning.

The Republican infighting further delays any compromise with Democrats to stop the countdown toward Tuesday when the government says it will run out of money to pay all its bills.

Lawmakers must lift the government's $14.3 trillion borrowing limit by August 2 or risk a devastating default and downgrade of the top-notch credit rating that helps make U.S. debt a pillar of the global financial system.

There was speculation House Speaker John Boehner, the top Republican in Congress, may revise his plan to attract more votes from rebels who want bigger cuts in spending than the roughly $900 billion over 10 years he has proposed.

"Republicans have taken us to the brink of economic chaos," House Democratic Leader Nancy Pelosi said. "The delay must end now so we can focus on the American people's top priority: creating jobs and growing the economy.

Party leaders held out hope that further changes could attract wavering conservatives. The House Rules Committee was set to meet at 11 p.m. Eastern time to amend the measure, striking some or all of $17 billion in supplemental funds for Pell Grants, a move that would add to the plan's $915 billion in deficit savings.

A meeting of the full House Republican conference is planned for Friday morning.

With just days remaining before the federal government runs out of money to pay its bills, the delayed vote left Boehner weakened, and strengthened the hand of Democratic congressional leaders in final efforts to forge a compromise to avert a threatened economic crisis.

The setback marked the second time this week that conservative opposition had forced Boehner to postpone a vote on his debt ceiling proposal, and it dramatically illustrated the power of the "tea party" conservatives to upend the GOP establishment.

The late-night decision came after hours of frantic but so-far unsuccessful arm twisting as House leaders ushered wavering members into leadership offices for meetings with the speaker, Majority Leader Eric Cantor (R-Va.) and Kevin McCarthy (R-Calif.), the majority whip.