[Updated at 1:19 p.m. ET] President Barack Obama said he's invited congressional leaders from both parties to the White House next week for talks on reducing the deficit and avoiding the so-called fiscal cliff facing the economy at the end of the year.
Obama, speaking at the White House on Friday afternoon, repeated his stance that he wants a plan that would allow the expiration of Bush-era tax cuts only for income over $250,000.
The president said he's "not wedded to every detail of my plan," and that he's "open to compromise." But he said he wouldn't ask middle-class families to "pay down the entire deficit” while the wealthy “are not asked to pay a dime more in taxes.”
House Speaker John Boehner said earlier Friday that it's important for lawmakers to work with Obama to avert the fiscal cliff. "This is an opportunity for the president to lead," he said.
Boehner also repeated his opposition to any tax increase in a deficit deal. "Raising tax rates will slow down our ability to create the jobs everyone says they want," he told reporters Friday. But he also said that "everything on the revenue side and on the spending side has to be looked at."
Visit the Political Ticker for more on Boehner's remarks.
Let it go off the cliff and I think the next election will be a democrat landslide.
Um, no, it won't. We'll start to regain our fiscal sanity after the next election. Reelecting Obama showed we've lost all sense of it in the short term.
Talk is cheap...Get the politicos out of the way and put their staffs to work with the lobbyists, economists, and business leaders and get something done. Most of these house idiots probably failed high school economics and are now looking to their "pastor" for the solutions!
The inclusion of the term lobbyist disheartens my faith in society...while you speak the truth in how it will be handled, you type as if you accept the process. What are we coming to?
I cordially invite Congress to actually *listen* to the POTUS...
that white women behind jack a** Obama is the next Monica watch out....
Steve... with comments like that I am going to go ahead and assume you are a cyber-bullyer who is either raising a child who is a bully, or will one day raise a child who is a bully. You've protected yourself from retribution by hiding behind your computer screen. You are a sad representation of whats wrong in this world. Instead of using your words for a legitimate argument, you resort to name calling.
Obama has nothing to say about taxes. Congress does. Obama, as usual, is full of hot air.
Yeah all the time Boehner talked it was no. Obama spoke for 5 and said he will not devistate anymore people than the big business has already. The middle class and poor have no more to give.
Obama wants America to take a hit.Its all part of the plan to destroy America.
Boehners "reform" he wants the 97% to take the hit. While the wealthy still get the cuts, loopholes and tax avoidance.
'So called fiscal cliff'? If one questions if the term 'fiscal cliff' is a good definition of what will happen without compromise, the answer would be yes. The only news here is that the compromise discussions will begin next week. Expect the 'leaks' to begin next week from both sides. While obviously best to discuss this in private without the radicals from both sides raising a fuss During the negotiations, there is little chance of that happening.
All of you people with your stupid comments are mad because our man, a democrat was re-elected. Get over it the american people have spoken and by a landslide. How about working with the president instead of aganist him. Until the reps do, this country will never move foward. Is this what you want? Oh by the way, i am very proud of the president, he led this country at a time when no one else would or could or would! Give him the credit that he so richly deserves. After all he did not create this mess, george bush did! So if you want to blame someone-republicans he'S YOUR MAN.
We may be able to end the welfare issue if the *high-end welfare recipients* and that would be our CONGRESS, would get off their duffs and do the job WE taxpayers, are paying them to do! The biggest welfare fraud in our country is CONGRESS!
People wonder what else Obambi-poo keeps hidden - Michelle says, "Oh well, nothing much" - That confession made him cry.
I'm going to wildly spend on people that vote for me and give the bill to people that vote for you. An incomprehensible debt will result, but nobody that votes for me will be affected. It will be your debt. Any questions?
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