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Boehner: Obama's Balanced Approach Means "We Spend More, You Pay More"

"I want you to know I made a sincere effort to work with the president to identify a path forward that would implement the principles of Cut, Cap, & Balance in a manner that could secure bipartisan support and be signed into law. I gave it my all.

"Unfortunately, the president would not take yes for an answer. Even when we thought we might be close on an agreement, the president's demands changed.

"The president has often said we need a 'balanced' approach -- which in Washington means: we spend more. . .you pay more. Having run a small business, I know those tax increases will destroy jobs.

"The president is adamant that we cannot make fundamental changes to our entitlement programs. As the father of two daughters, I know these programs won't be there for them and their kids unless significant action is taken now."

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