GOP: We'll Pass 'Cut, Cap, and Balance' Next Week; Obama: It's Just Political Posturing

By Susan Jones | July 15, 2011 | 11:26 AM EDT

President Barack Obama sits with House Speaker John Boehner of Ohio, and Senate Minority Leader Mitch McConnell of Kentucky, and Sen. Dick Durbin, D-Ill., as he meets with Republican and Democratic leaders regarding the debt ceiling in the Cabinet Room of the White House in Washington, Wednesday, July 13, 2011. (AP Photo/Charles Dharapak)

( - Next week, Republicans again will show that they can lead, House Majority Whip Kevin McCarthy (R-Calif.) told a news conference on Friday.

"We welcome every Democrat to join with us. But we will take the (Cut, Cap and Balance) bill out of the House, and if there's any question whether Republicans can do it on their own -- we will."

McCarthy was one the Republican leaders taking their side of the debt talks directly to the American people on Friday. Cut, Cap and Balance means cut the deficit, cap spending, and passing a balanced budget amendment. Republicans insist that tax hikes are off the table.

The Republicans' news conference came shortly before one called by President Obama.

The president -- asked at his own news conference if the Republicans' Cut, Cap and Balance bill would be "dead on arrival" if it even makes it to the White House -- said he hasn't looked at it.

Obama did say he expects House Republicans to vote on bills "just to make political statements," and he indicated that any plan that doesn't include "revenue" (tax increases on the wealthy) will not be satisfactory.

“The American people are sold,” Obama said. He said 80 percent of the American people support a “balanced approach,” which includes spending cuts and tax increases.