7/24 @ 11:30 AM ET | Speaker Boehner Press Conference - WATCH LIVE HERE

In an interview on ABC This Week with Martha Raddatz, Speaker John Boehner explained how balancing the budget is good for American families and good for our economy. He noted that President Clinton worked with Republicans in the 1990s to balance the budget, and that he hopes President Obama “would realize that this could be part of his legacy as well.” Click here for the full transcript and find several excerpts from the Speaker’s interview below:

On Balancing the Budget for the Sake of Families & Jobs:

“Balancing the budget will, in fact, help our economy. It'll help create jobs in our country, get our economy goin' again, and put more people back to work. The fact the government continues to spend more than a trillion dollars every year that it doesn't have scares investors, scares businesspeople, makes 'em less willing to hire people.”

On President Obama’s Opportunity to Work with GOP to Balance the Budget:

“President Clinton reached out to Republicans in the mid-'90s. We were able to come to an agreement on a plan that would balance the budget and it did. And it's part of his legacy. And I would hope the president would realize that this could be part of his legacy as well.”

On a “Balanced” Approach:

“The American people know you can't continue to spend money that you don't have. And that's what the president wants to do. The president also said in that interview that his goal wasn't merely to balance the budget. What he talks about a balanced plan. What's balanced about a budget that never gets to balance?”

On America’s Debt Crisis:

“We all know that we have one looming. And we have-- one looming-- because we have entitlement programs that are not sustainable in their current form. They're gonna go bankrupt. Washington has responsibility-- to our seniors and our near seniors-- that we firm up these programs so that they're there for the long term. Because if we don't do it, not only will they not get benefits, we will have a debt crisis right around the corner. We have time to solve our problems. But we need to do it now.”

On the President Already Getting His Tax Hikes:

“The president got his tax hikes on January the 1st.  He ran his election on taxing the wealthy. He got his tax hikes. But he won't talk about the spending problem and that's the problem here in Washington. This year, the federal government will bring in more in revenue than in any year in our history. And yet, we will still spend a trillion dollars more than what we bring in. The American people have to balance their budgets. Businesses have to balance their budgets. Why shouldn't Washington balance its budget? It's good for our country.”

On the President’s “Charm Offensive”:

“Well, it's always a good thing to-- engage in more conversation-- engage more members in the conversation that-- have not been involved up to this point. But when you get down the-- the-- the bottom line, if the president believes that we have to have more taxes from the American people, we're not gonna get very far.”