Boehner says Republicans won't allow another increase in the nation's debt limit unless it's offset by spending cuts, and no tax increases.
"Allowing America to default on its debt would be irresponsible," he said.
The nation's debt has nearly tripled in the past decade, and now stands at $15.6 trillion.
Treasury Secretary Timothy Geithner has predicted the U.S. will hit its current borrowing limit of $16.4 trillion by the end of the year.
New battle over debt limit inevitable? - CBS News
And I give you what our political debate between the President and Romney should be. We need tax reform and spending reform quickly.