Boehner: This is a Stalemate

In response to President Obama's new $1.6 trillion tax hike proposal, Speaker John Boehner said today fiscal cliff talks have reached a "stalemate."

"There is a stalemate," Boehner said. "I'm rather determined to solve our debt problem."

When asked about GOP solutions to the looming crisis, Boehner pointed to the work the House has done in the past two years for solutions.

"You can look at our budget in the past two years and there are plenty of specific proposals," he said, adding that significant and real spending cuts must be on the table in order to reach a deal.