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The President: Hi, everybody.
On Tuesday, America went to the polls.
And the message you sent was clear: you voted for action,
not politics as usual.
You elected us to focus on your jobs, not ours.
That's why I've invited leaders of both parties to the White
House next week, so we can start to build consensus around
challenges we can only solve together.
I also intend to bring in business,
labor and civic leaders from around the country,
from outside Washington, to get their ideas and input as well.
At a time when our economy is still recovering from the Great
Recession, our top priority has to be jobs and growth.
That's the focus of the plan I talked about throughout
the campaign.
It's a plan to reward businesses that create jobs here in
America, and give people access to the education and training
that those businesses are looking for.
It's a plan to rebuild our infrastructure and keep us on
the cutting edge of innovation and clean energy.
And it's a plan to reduce our deficit in a balanced and
responsible way.
This is even more important because at the end of this year,
we face a series of deadlines that require us to make major
decisions about how to pay down our deficit --
decisions that will have a huge impact on the economy and the
middle class, not only now, but in the future.
Last year, I worked with Democrats and Republicans to cut
a trillion dollars' worth of spending,
and I intend to work with both parties to do more.
But as I said over and over again on the campaign trail,
we can't just cut our way to prosperity.
If we're serious about reducing the deficit,
we have to combine spending cuts with revenue --
and that means asking the wealthiest Americans to pay a
little more in taxes.
That's how we did it when Bill Clinton was President.
And that's the only way we can afford to invest in education
and job training and manufacturing --
all the ingredients of a strong middle class and a
strong economy.
Already, I've put forward a detailed plan that allows us to
make these investments while reducing our deficit by
$4 trillion over the next decade.
Now, I'm open to compromise and new ideas.
But I refuse to accept any approach that isn't balanced.
I will not ask students or seniors or middle-class families
to pay down the entire deficit while people making over
$250,000 a year aren't asked to pay a dime more in taxes.
This was a central question in the election.
And on Tuesday, we found out that the majority of Americans
agree with my approach -- Democrats, Independents,
and some Republicans.
Now we need a majority in Congress to listen --
and they should start by making sure taxes don't go up on the
98% of Americans making under $250,000 a year starting
January 1st.
This is something we all agree on --
that taxes on middle-class families should not go up.
Congress should permanently extend the middle-class tax cuts
right now; even as we negotiate a broader deficit
reduction package.
It's a step that would give millions of families and 97% of
small businesses the peace of mind that will lead to new jobs
and faster growth.
There's no reason to wait.
We know there will be differences and disagreements in
the months to come.
That's part of what makes our political system work.
But on Tuesday, you said loud and clear that you won't
tolerate dysfunction, or politicians who see compromise
as a dirty word.
Not when so many of your families are still struggling.
Instead, you want cooperation.
You want action.
That's what I plan to deliver in my second term,
and I expect to find leaders from both parties willing
to join me.
Thanks, and have a great weekend.