The media reports have been pushing this all day:
GOP: There'll be no compromise on tax cutsNow, here is Steve Kroft interviewing President Obama on
60 Minutes:
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KROFT: One of the first chances you're gonna get to show a spirit of cooperation is on the Bush tax cuts, which are set to expire at the end of the year. You've said that you want to keep 'em in place for the middle class. You want them to expire for the wealthier Americans. The Republicans want to keep them for everybody. Are you ready to compromise on the Bush tax breaks?
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KROFT: Congressman Boehner is the next Speaker of the House, most likely, offered you a compromise back in September. He suggested extending the tax break for the wealthiest for two more years. And rolling back discretionary government spending to levels before the bailout in 2008. Is that something that you could live with?
PRESIDENT OBAMA: I think that when we start getting specific like that, there's a basis for a conversation. I think that what that means is that, you know, we can look at what the budget projections are. We can think about what the economy needs right now. Given that it's still weak. And hopefully, we can agree on a set of facts that leads to a compromise. But my number one priority coming into this is making sure that middle class families don't see their tax rates go up January 1st.
KROFT: Do you want to make a counter proposal to him right now?
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The tax cuts expire December 31. Boehner is not Speaker of the House when Congress reconvenes on November 15.
Republicans can scream about not compromising, but they do not have the upper hand.