Congressman Leonard Lance joined his House Republican colleagues at the White House East Room Wednesday morning for a meeting with President Obama to discuss a budget agreement to raise the Nation's debt ceiling.

During the meeting House Republicans called on the President to join them in producing a budget proposal that reduces spending and lowers our debt and deficits in exchange for raising the Nation’s debt ceiling.

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“I appreciated President Obama’s willingness to meet with House Republicans at the White House this morning to discuss the debt ceiling issue," Lance said. “House Speaker John Boehner, Majority Leader Eric Cantor and House Republican Chairmen Dave Camp and Paul Ryan did an excellent job communicating our position and we as a Conference collectively called on the President to put forth a debt limit increase plan that includes spending reforms to help get our Nation's fiscal house in order."

The meeting at the White House comes a day after the U.S. House resoundingly rejected a bid to increase the government’s borrowing capacity by $2.4 trillion from $14.3 trillion to $16.7 trillion without accompanying spending restrictions.  The President's debt limit increase request failed by a vote of 97 to 318.

“Yesterday's vote shows there is clearly no support in the U.S. House for a debt limit increase without meaningful federal spending reductions and fiscal reforms,"  Lance concluded.

For his part, Congressman Lance has called for a bipartisan agreement that includes coupling raising the debt limit with meaningful spending reforms, substantial reductions in current spending and safeguards that will restrict future spending, such as the balanced budget amendment and spending caps.