Update: In a very brief press conference, House Speaker John Boehner presented his plan to raise the debt ceiling and cut spending Monday, calling it "less than perfect" but insisting that it would be "irresponsible" for President Obama to veto it. Why is that a risk? Because Boehner's plan does not raise the limit enough to keep the government funded through the 2012 elections--something Obama has said is absolutely necessary.
Original Post: House Speaker John Boehner is giving a press conference Monday to offer the House Republicans' plan to raise the debt ceiling and cut the federal budget deficit. Watch it live here: