House Speaker John Boehner (R-OH) Monday told CBS' Scott Pelley that he got almost everything he wanted in the deal to raise the debt ceiling.
"How did the grand bargain fail?" Pelley asked. "What was the breaking point? How did you tell the president you were walking away?"
"It really boiled down to two issues," Boehner explained. "President was insisting on more taxes. President never got serious about the kind of spending cuts that were necessary in order to get America back on a sound fiscal footing."
"You were unable to get your own caucus behind your bill a few days ago," Pelley noted. "Do you intend to remain Speaker of the House?"
"I do," Boehner replied. "When you look at this final agreement that we came to with the white House, I got 98 percent of what I wanted. I'm pretty happy."
Watch this video from CBS News, broadcast Aug. 1, 2011.