Boehner To House GOP: No Deal Yet 

Speaker John Boehner, R-Ohio, just ended a conference call with GOP House members, telling them there is no deal on raising the debt ceiling yet, even as the Asian markets are set to open.

He told those on the call that the goal is to find a measure that embodies the principles of the House GOP's "cut, cap and balance" but which can also pass the Senate.

Majority Leader Eric Cantor, R-Va., who was also on the call, told those listening that he is seeking "dollar for dollar cuts now" as a down payment for future action to cut the nation's deficit.

Boehner said House Republicans must deny Obama a debt ceiling increase that does not include cuts and he told the group he would not accept tax increases. But Boehner warned they would have to accept some compromises and make some sacrifices "and stand together as a team."

Boehner then said he was not close to a deal and never has been, despite media reports, and said more discussions are needed on a balanced budget amendment.

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