Barack Obama was locked in crisis budget talks with congressional leaders as the US faces the prospect of a costly government shutdown.
The shutdown would see 800,000 workers asked to stay at home and could cost taxpayers more than $100 million (£61 million) a day.
Mr Obama called for a “sense of urgency” as America sought to avoid the first shutdown since 1996 when Bill Clinton was president.
Failure to reach a deal by midnight on Friday would mean that Washington would essentially run out of money.
The budget battle is a clash between resurgent Republicans, who scored a huge win in last year's midterm elections, and Mr Obama's Democrats over the size of government, debt and deficits.
All-night talks among aides failed to break the deadlock on Wednesday so Mr Obama summoned Representative John Boehner, Speaker of the House of Representatives and a Republican, and Senator Harry Reid, a Democrat and Senate Majority Leader, for the second time in just over 12 hours. (read more)
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