House Speaker John Boehner held a conference call this afternoon with his rank and file members and told them he wanted a deal on raising the nation’s debt ceiling by 2 p.m. Sunday in order to avoid rattling the Asian Markets, those familiar with the call said.
Boehner told members he is aiming for a deal that encompasses the framework of the GOP’s “cut, cap and balance” plan to cap spending, cut the budget by $111 billion and pass a balanced budget amendment.
Neither side is close to a deal yet, Boehner said, but that they had to come up with something soon, or the party would lose leverage after August 2, “and it would be a disaster for the country,” according to those familiar with the call. Boehner told members they might not be able to give them every detail of a deal before announcing one publicly, but that his goal is to give them some kind of advance notice.
He told them not to worry about him caving in too much to Democratic demands.
