President Obama continued his weeks-long campaign to extend middle-class tax cuts while also pursuing higher rates for the most wealthy Americans. In his weekly address, President Obama made it very clear that higher rates for the wealthy is a sticking point for any deal that comes across his desk:
"But if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy - and if we're serious about protecting middle-class families - then we're also going to have to ask the wealthiest Americans to pay higher tax rates. That's one principle I won't compromise on.
After all, this was a central question in the election. A clear majority of Americans - Democrats, Republicans and Independents - agreed with a balanced approach that asks something from everyone, but a little more from those who can afford it the most. It's the only way to put our economy on a sustainable path without asking even more from the middle class. And it's the only kind of plan I'm wiling to sign."
President Obama's Weekly Address: