USA Today 
Tuesday, July 26, 2011
While waiting for Congress to make its next move, the Obama administration today threatened to veto the two-step debt reduction plan put up by House Speaker John Boehner — though they’re pretty sure it won’t come to that.
“The speaker’s proposal cannot pass the Senate, will not pass the Senate, will not reach the president’s desk,” said White House spokesman Jay Carney.
Carney had nicer things to say about a plan put forth by Senate Majority Leader Harry Reid, D-Nev., but acknowledged it might not pass the Republican House.
Hence the need for compromise, Carney said, echoing the theme of Obama’s speech Monday night.
Full story here.