Jobs Report: Republicans Say Tax Increases In Debt Ceiling Deal Will Hurt Economy

"The situation that we face is pretty urgent, as a matter of fact I would describe it as dire," House Speaker John Boehner said at a news conference, emphasizing that "a debt limit increase that raises taxes or fails to make serious spending cuts won't pass the House."

He was backed up by Majority Leader Eric Cantor, who said that deficit reduction talks held by Vice President Joe Biden that Cantor abandoned had ended because Democrats were insisting on raising taxes.

"Now it just does not make sense for Americans to suffer under higher taxes in an economy like this," said Cantor, R-Va.

Obama has insisted that some revenue increases be included in a deficit-reduction plan.