U.S. House Speaker John Boehner on Tuesday said he agreed with Representative Paul Ryan's assessment that the process under which a two-year budget deal was negotiated "stinks" but the alternative was a "clean" increase in the debt ceiling or a default on federal obligations.

Boehner told reporters after presenting the deal to House Republicans that there was no reason that any of them should vote against the deal, as it sets spending levels for two years and contains the first reforms to Social Security in 32 years.