Boehner to Insist on Deep Cuts for Debt Increase

House Speaker John Boehner will stick to his demand for spending cuts greater than the size of an increase in the U.S. debt limit at an 11 a.m. EDT meeting with President Barack Obama on Saturday.

A Boehner aide also said the top House Republican viewed Obama's insistence of a debt limit increase that would carry the country to 2013 as a condition designed to suit the president's re-election chances.

"It would be terribly unfortunate if the President was willing to veto a debt limit increase simply because the timetable prescribed would not be the ideal one for his re-election campaign," the aide said.