Boehner rallies GOP troops on debt limit

Politico reports

Speaker John Boehner told a closed gathering of House Republicans on Tuesday morning that he was “pissed” over being unable to reach a “grand bargain” with President Barack Obama to make sweeping entitlement changes in return for an overhaul of the U.S. tax code.

But Boehner also accused Obama of failing to lead on the impending crisis over boosting the $14.3 trillion debt limit, according to people inside the GOP meeting.

But while Boehner was trying to rally his Republican troops Tuesday morning, he did warn them that they will quickly lose leverage in the debate as the country grows closer to the Aug. 2 debt default deadline and Wall Street and business leaders pressure them to cut a deal.

House Majority Leader Eric Cantor, who opposed Boehner’s efforts to cut a “grand slam” deal with Obama, was just as blunt as the speaker. Cantor told rank-and-file Republicans that unless Democrats drop their insistence on tax increases as part of an agreement to raise the debt ceiling, there may be no compromise possible with Obama and Democratic congressional leaders.

“If the Democrats continue to insist on tax increases, there is no viable path forward,” Cantor warned, according to sources.

The overwhelming sentiment from House Republicans, according to those present in the room, was that even $2 trillion in cuts over 10 years — roughly what is being discussed at the White House meetings — isn’t sufficient. Republicans want even more cuts, and they want them immediately. Moderate Rep. Cliff Stearns of Florida, a 22-year veteran of the House, stood up and said $2.5 trillion wasn’t enough for a deal.