Republicans: Taxes will not be increased

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WASHINGTON, July 8 (UPI) -- Republican leaders were adamant Friday that tax increases will not be part of any budget deal with President Obama.

At a news conference, House Speaker John Boehner, R-Ohio, Majority Leader Eric Cantor, R-Va., and other House leaders blamed Obama's policies for an uptick in unemployment in June.

"The stimulus spending binge, excessive government regulations and our overwhelming debt continue to hold back job creators around our country. Tax hikes on families and job creators would only make things worse," Boehner said.

Boehner said he sees no early resolution to deficit reduction talks.

Minority Leader Nancy Pelosi, D-Calif., who had a Friday morning meeting with President Barack Obama in the Oval Office, said Thursday her party will not allow cuts in Social Security.

"We do not consider Social Security a piggy bank for giving tax cuts to the wealthiest people in our country," Pelosi, told reporters after a White House-congressional debt-limit summit convened by President Barack Obama.

Obama said after Thursday's meeting the eight Republicans and Democrats, including Pelosi, were still "far apart," but he expressed confidence they could agree on an ambitious deal to prevent the government from defaulting on its debt. He said White House and congressional staff members would work through the weekend and the congressional leaders would meet with Obama again at the White House Sunday.

He said he hoped by then "the parties will at least know where each other's bottom lines are and will hopefully be in a position to then start engaging in the hard bargaining that's necessary to get a deal done."