Republican Speaker of the House John Boehner responded to Mr. Obama's speech by acknowledging that the United States must not default on its obligations. But he said the American people will not accept an increase in the U.S. borrowing limit without significant spending cuts and reform.

Boehner gave no indication of compromise. Instead, he said the solution to the debt crisis is not complicated, and will require the United States to not spend more money than it takes in.