Obama : Obama says opposing higher taxes on the wealthy is what ` ` binds '' the GOP . The spending cuts will harm the economy and national security , both sides agree . President Obama says Republicans need to compromise . That deal raised tax rates on families earning more than $ 450,000 and individuals earning above $ 400,000 while maintaining lower rates for everyone else . House Speaker Boehner rejects Democratic demands for more revenue as a solution .
Obama : Obama says opposing higher taxes on the wealthy is what ` ` binds '' the GOP . The spending cuts will harm the economy and national security , both sides agree . President Obama says Republicans need to compromise . House Speaker Boehner rejects Democratic demands for more revenue as a solution .