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Wednesday, August 20, 2014, 1:41 p.m.
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Obama: Americans agree with my approach on deficit

By The Associated Press

This article was originally published November 9, 2012 at 9:53 a.m. Updated November 9, 2012 at 12:42 p.m.

— President Barack Obama, laying down his marker for grueling budget and tax negotiations, said Friday that he won’t accept any approach to deficit reduction that doesn’t ask the wealthy to pay more in taxes.

“This was a central question during the election,” Obama said in his first postelection comments on the economy. “The majority of Americans agree with my approach.”

The president, speaking before a group of middle-class Americans in the White House East Room, said he wasn’t wedded to every detail of the plans he outlined during the election, adding, “I’m open to compromise.” But he offered no indication that he was willing to back down on his insistence that the wealthy pay more.

Obama said he had invited congressional leaders of both parties to the White House next week to start negotiations on averting the “fiscal cliff” tax increases and automatic spending cuts due to hit in January that both parties agree could cripple the economy.

Republicans, as they did throughout the past four years, say raising tax rates on wealthier Americans is a nonstarter. Obama has given in to them on the matter before, but his aides believe he has earned a mandate on the issue through his re-election victory.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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Displaying 1 - 3 of 3 total comments

HOTDEMN says... November 9, 2012 at 11:59 a.m.

It looks like congress is returning to business as usual. Protect the rich and screw the little guy. I hope the clear thinkers can summon the guts to buck the leadership.

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RonalFos says... November 9, 2012 at 10:40 p.m.

It's going to be very hard to move Republicans because party's real reason for existence is to give more power to the wealthy and the wealthy reward them with almost unlimited money for reelection and outrageously paid consulting jobs after leaving government. No amount of logic or reason will change them, only defeat at the ballot box.

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