Quote from CaptainObvious:
So both sides say they're willing to "compromise" yet both say they're dug in. Gee, what could possibly go wrong?
WASHINGTON (AP) â President Barack Obama, laying down his marker for grueling "fiscal cliff" negotiations, said Friday he won't accept any approach to federal 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 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.
Republicans stood their ground. At the Capitol, Republican House Speaker John Boehner said he remains unwilling to raise tax rates on upper-income earners. But he left open the possibility of balancing spending cuts with new revenue that could be achieved by revising the tax code to lower rates and eliminate some tax breaks.