Exhibiting a mix of strong resolve and restraint, President Obama utterly rejected any budget plan that is devoid of raising taxes on income over $250,000 per year, even if the decision drives the economy into another recession. With that in mind, President Obama did not back out the idea of a compromise that would keep the top tax rates lower than their previous values under Clinton administration.
President Obama, in his first formal news conference in the last eight months talked very little of the forthcoming fiscal cliff and ended up talking more about a C.I.A. scandal and who to blame for the attacks on the U.S. diplomatic mission in Libya.
President Obama also defended his ambassador to the UN, Susan E. Rice who also happens to be a candidate for secretary of state. The ambassador came under attack from the Senator John McCain & rest of the Republicans for suggestive of the idea that the event that led to the killing of 4 Americans in Libya was an impulsive protest and not a pre-planned terrorist attack.