The House Speaker said Republicans would press ahead with their own proposal should Obama continue to reject a two-tier plan

With Asian markets set to deliver a verdict within hours on the U.S. debt crisis, House Speaker John Boehner, R-Ohio, said on Sunday morning that he was prepared to advance a House debt-ceiling plan without Democratic support.

Boehner said he would prefer to have bipartisan backing for a two-tiered framework, comprised first of a savings package then a pass at reforms to entitlement programs and the tax code.

"If that's not possible, I and my Republican colleagues in the House are prepared to move forward on our own ... today," he said. Boehner said he would develop a package "within the principles of Cut, Cap and Balance."

He refused to nail the coffin on a so-called grand bargain that he and President Obama had been negotiating, but said during a Fox News Sunday appearance, "It may be pretty hard to put Humpty Dumpty together again." He said he was focused on a package that was "doable at the 11th hour."

The more such a plan relies on House GOP support, the less likely it would be to clear the Senate. Democrats in the House, Senate, and White House have all signaled unwillingness to sign off on a debt-ceiling hike that does not carry into 2013.