(NECN) - House Speaker John Boehner responded to President Obama's Monday evening speech, but did not indicate that he was prepared to compromise.
Both sides have been looking for a new agreement on the debt ceiling in time for an August 2 deadline.
Boehner claimed that "there is no stalemate in Congress" and that the debt crisis could be over quickly. He stated that the Republicans' legislation will be voted on in the House later this week. Boehner expects that the legislation will pass in both the House and in Congress.
"The president has often said we need a `balanced' approach, which in Washington means we spend more, you pay more," the Ohio Republican said. "The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen."
Boehner's legislation called for spending cuts and an increase in spending cuts low enough that another struggle would ensue during the 2012 elections.