The Debt Ceiling Plan

Speaker Boehner has said that he is proposing a "common sense" plan to help our country with our debt problem. It will be a two step approach in this plan. The proposal is to raise it $900B now and $1.6T in January. It's a Bi-partisan negotiation that will include no tax increases. It will be along the lines of the cut, cap, & balance principle. Right now our nation's debt is $14 trillion.
Speaker Boehner says spending cuts are greater than the hike in debt limit.
They call this a common sense proposal but fail to agree to a hike in taxes. Those tax increases could go into grants that are given to entrepreneurs to create business to create jobs.

What is your opinion of this proposal?