Obama, Boehner clash at White House over debt-ceiling hike

According to a readout of the meeting from the Speaker’s office, Boehner asked Obama if he was proposing that Congress increase the debt limit without corresponding spending cuts. The president replied, “Yes,” the Boehner aide said. At that point, Boehner told Obama, “As long as I’m around here, I’m not going to allow a debt-ceiling increase without doing something serious about the debt.”
Someone please explain this to me, I was taught even as a child how to live within my means, it's basic budgeting and economics. Yet the leaders of this country don't get it....... BASIC economics.