US House of Representatives Speaker John Boehner said on Sunday he is ready to "cut the deal today" on raising the US debt limit but has seen no real action on the subject from President Barack Obama.
With the federal government scheduled to meet the limits of its borrowing authority on Monday, Republican Boehner said on CBS's "Face the Nation" program that if the government does not act soon, "the markets are going to act for us. Our creditors are going to act for us We could see the end of our economy, if we don't act."
On raising the debt ceiling, Boehner said: "I'm ready to cut the deal today. You know, we don't have to wait until the 11th hour."
Boehner, who has proposed raising the debt ceiling in direct proportion with spending cuts, called for Obama to do more. "He's talking about it. But I'm not seeing real action yet," Boehner said.