Obama will veto the “Cut, Cap and Balance” bill

House Speaker John Boehner (R-Ohio) and Majority Leader Eric Cantor (R-Va.) met Sunday with President Obama at the White House to discuss the path forward on raising the debt ceiling.

Michael Steel, a spokesman for Boehner, confirmed the Sunday morning meeting and said that while the lines of communication “are being kept open,” there remains “nothing to report in terms of an agreement or process.”

News of the meeting was first reported by Politico.

“We believe cut, cap and balance represents the best path forward, and we are looking forward to the House vote on it tomorrow,” Steel said, referring to the chamber’s planned vote on a measure that would call for any increase in the debt limit to be accompanied by significant spending cuts, statutory spending caps and congressional passage of a balanced budget amendment to the Constitution.

The White House on Monday formally registered its opposition to the measure, issuing a statement through the Office of Management and Budget that Obama would veto the “Cut, Cap and Balance” bill if it were to reach his desk.

via Boehner, Cantor met with Obama on Sunday – 2chambers – The Washington Post.

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