ABC News' Jonathan Karl (@jonkarl) reports:
In the latest Republican salvo on the debt-limit showdown, Speaker of the House John Boehner outlines two immutable Republican facts on increasing the debt limit:
1) No increase will pass the House if it includes tax increases and,
2) No increase will pass the House if it does not include spending cuts that exceed the corresponding debt limit increase.
"These are the realities of the situation. If the president and his allies want the debt limit increased, it is only going to happen via a measure that meets these tests,” says Boehner in the written statement. “If the president puts forth such a proposal, he has my word that the House will act on it. But a measure that fails to meet these tests cannot pass the House.”
As far as Republicans are concerned, the ball is now in the president’s court.