A deal to restrain the U.S. debt and avert a looming default is not imminent as Democrats and Republicans must still overcome serious disagreements, House of Representatives Speaker John Boehner said on Friday.

It's not like there's some imminent deal about to happen, Boehner said at a news conference. There are serious differences about how to deal with this very serious problem.

(Reporting by Andy Sullivan; Editing by Vicki Allen)

Nancy Pelosi