President Barack Obama says raising taxes on wealthiest Americans must be part of deficit reduction plan, but says he is "open to compromise" and "new ideas."
Obama says he will refuse to accept any approach that "isn't balanced."
Obama says in his first comments since the election that Congress should pass a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans.
He says lawmakers from both parties need to work together to tackle the nation's fiscal problems.
The president says he is inviting congressional leaders of both parties to the White House next week for talks on how to avoid the so-called fiscal cliff, as the automatic spending cuts and tax hikes are known.
Lawmakers face a Jan. 2 deadline to reach an agreement.
Read more Business News
- Sun ready to open new seasonBCFC - 5:00 am
- Gaza rally in PentictonPenticton / S. Okanagan - 5:00 am
- No booze for BoonstockPenticton / S. Okanagan
- Crash turns fatal on 97CCentral Okanagan - 7:51 am
|QHR Technologies Inc||1.15||-0.02|
|Anavex Life Sciences||0.275||-0.005|
|Copper Mountain Mining||2.82||0.00|
|Sunrise Resources Ltd||0.05||+0.025|
|Mission Ready Services||0.19||+0.01|
Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...