Obama says tax hike will have to come first in “fiscal cliff” deal

U.S. President Barack Obama speaks to military fathers and their children before watching movie in WashingtonWASHINGTON (Reuters) – President Barack Obama said on Wednesday that Republicans would have to agree to raise taxes on the wealthy as the first step in a budget deal that would prevent a dysfunctional Washington from pushing the economy into recession. In his first news conference since winning re-election last week, Obama said he would be open to considering Republican priorities like entitlement reform and a tax-code overhaul as part of a broad-based deal to get the nation's finances on a sustainable course. …




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