Boehner: Budget pact lives up to GOP principles

House Speaker John Boehner says the pact he's reached with President Barack Obama and other leaders of Congress on lifting the debt limit and taming the budget "isn't the greatest deal" but lives up to the GOP's principles on taxes and spending.

The agreement pairs spending cuts demanded by Republicans with an immediate increase in the government's borrowing cap that's needed to avoid a first-ever default after Tuesday.

Boehner said the deal with Obama — which contains no tax increases and sets the stage for more than $2 trillion in spending cuts — shows how Republicans have changed the terms of debate in Washington.

The Ohio Republican says he wants to bring the measure to a vote as soon as possible.