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Boehner: My last offer's still on the table

By the CNN Wire Staff
House Speaker John Boehner arrives at the Capitol on Sunday.
House Speaker John Boehner arrives at the Capitol on Sunday.
  • Boehner says the White House and Democrats balked at "real cuts" in a proposed plan
  • He says Republicans are coming up with a backup plan, but provides no details
  • Boehner downplays concerns over lack of plan affecting Asian markets

Washington (CNN) -- House Speaker John Boehner said Sunday that his last offer to the White House remains on the table, despite his weekend decision to break off talks over a deal to raise the federal debt ceiling.

Boehner told "Fox News Sunday" that his previous offer included $800 billion in projected new federal revenue over 10 years from a "fairer, flatter" tax code, not higher tax rates. But the talks broke down last week when President Barack Obama and congressional Democrats resisted "real cuts in spending," according to Boehner, R-Ohio.

While saying he would prefer to reach an agreement with Democrats, Boehner added "if that's not possible, I and my Republican colleagues in the House are prepared to move on our own, today."

He offered no details, saying they were still being crafted. Any GOP-only plan would likely have trouble winning approval in the Democratic-controlled Senate.

Geithner: Default is 'unthinkable'
On debt, GOP wants solution, not a deal

Treasury Secretary Tim Geithner said Sunday that Boehner and other congressional leaders are still talking about a comprehensive deficit reduction deal that that would increase the debt ceiling to prevent a government default.

Read the latest on the debt talks

A Republican aide told CNN on Saturday that Boehner wanted a solution before Asian markets opened Monday morning -- Sunday evening in Washington -- but the speaker downplayed that concern during his Sunday interview on Fox.

"While Asia may be important, this is about American jobs and the American economy," Boehner said. "If we don't do something serious about controlling our debt, it's hanging over our country like a wet blanket."