Boehner spoke of the two step plan to avoid an "economic collapse resulting from a default" says it's a "responsible, common sense plan."
Says legislation reflects bipartisan negotiations over the weekend, with Senate colleagues, says it's "less than perfect", but ensures "spending cuts will be greater than the hike in debt limit" and there are "no tax increases as part of this plan."
"It's not "Cut, Cap & Balance but built on [those] principles." "Can pass the United States Senate as well as the United States House."
Urges House & Senate support, says Obama "irresponsible" if he vetoes.
Will someone explain if they are real CUTS or just reductions in the Rate of INCREASE