Boehner Abandons Efforts to Reach Comprehensive Debt-reduction Deal

By Paul Kane and and Lori Montgomery, Updated: Saturday, July 9, 8:41 PM

“House Speaker John A. Boehner abandoned efforts Saturday night to reach a comprehensive debt-reduction deal worth more than $4 trillion in savings, telling President Obama that a midsize package was the only politically possible alternative to avoid a first-ever default on the nation’s mounting national debt.

Boehner (R-Ohio) told Obama — who is hosting a key meeting Sunday evening on the debt issue — that their efforts to “go big,” as the speaker says, were stymied by the toughest issues: taxes and entitlements. Democrats continued to insist on tax reforms that would not pass muster in the conservative-dominated House, and Republicans wanted cuts to programs such as Medicare and Social Security that Obama and Senate Democrats would oppose.

“Despite good-faith efforts to find common ground, the White House will not pursue a bigger debt reduction agreement without tax hikes. I believe the best approach may be to focus on producing a smaller measure, based on the cuts identified in the Biden-led negotiations, that still meets our call for spending reforms and cuts greater than the amount of any debt limit increase,” Boehner said in a statement released less than 24 hours before the Obama meeting is to take place.”