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Obama Signals He’s Holding Firm on Tax Rates

President suggests he's willing to accept some entitlement cuts.

By Julianna Goldman and Mike Dorning, Bloomberg | Updated on December 05, 2012

President Barack Obama is hardening his stance in his first post-election confrontation with Republicans, declaring he will make no deal on the country’s fiscal future unless congressional leaders first accept tax-rate increases on top earners.

During an appearance yesterday on Bloomberg Television, Obama’s first media interview since his re-election, the president paired his ultimatum on taxes with signals he is ready to make concessions to Republican House Speaker John Boehner’s calls for cuts to entitlement programs such as Medicare health insurance for the elderly.

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