Debt talks on hold while top leaders decide: Biden

WASHINGTON (Reuters) - Vice President Joe Biden said on Thursday the debt talks he has led had gone into "abeyance" and made clear the next phase of the process is in the hands of President Barack Obama and congressional leaders.

"The bipartisan debt talks have made significant progress on a blueprint for putting America's fiscal house in order," Biden said in a statement after Republicans walked out of budget negotiations." Biden said that from the outset the goal was to report the findings back to "our respective leaders," meaning Obama and top Democratic and Republican lawmakers.

"The next phase is in the hands of those leaders, who need to determine the scope of an agreement that can tackle the problem and attract bipartisan support. For now the talks are in abeyance as we await that guidance. We stand ready to meet again as necessary," he said.

(Reporting by Matt Spetalnick; Editing by Anthony Boadle)