Boehner: Budget pact lives up to GOP principles

WASHINGTON (AP) - July 31, 2011

The agreement pairs spending cuts demanded by Republicans with an immediate increase in the government's borrowing cap that's needed to avoid a first-ever default after Tuesday.

Boehner said the deal with Obama - which contains no tax increases and sets the stage for more than $2 trillion in spending cuts - shows how Republicans have changed the terms of debate in Washington.

The Ohio Republican says he wants to bring the measure to a vote as soon as possible.

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