The New York Times reports:
President Obama on Saturday repeated his challenge to Republicans to accept higher taxes on wealthy people and corporate interests, as part of a plan to reduce the budget deficit.
In remarks prepared for his weekly address, Mr. Obama said that reaching an agreement would demand tough choices of both Democrats and Republicans, and that taxes could not be off limits.
“It would be nice if we could keep every tax break, but we can’t afford them,” he said, reprising a theme he struck in a news conference on Wednesday. “Because if we choose to keep those tax breaks for millionaires and billionaires, or for hedge-fund managers and corporate-jet owners, or for oil and gas companies pulling in huge profits without our help — then we’ll have to make even deeper cuts somewhere else.”