In a statement at the White House, Obama indicated he will meet with Senate Majority Leader Harry Reid and House Speaker John Boehner next week "so we can start to build consensus around the challenges that we can only solve together." The president was referring to $64 billion in automatic spending cuts that will take effect in January if a deal cannot be reached. Those cuts are mandated by the Budget Control Act that Obama signed into law last year. Advertise | AdChoices In his first White House appearance since defeating Republican Mitt Romney in Tuesday's election, Obama said he was "open to new ideas" to avoid what is known as the “fiscal cliff.” But he also dug in his heels by insisting that additional revenue be part of the solution. “We can’t just cut our way to prosperity,” he said, adding that he would insist that “the wealthiest Americans to pay a little more in taxes” – a line that drew applause from the group of supporters standing behind him on stage. Obama defines "the wealthiest Americans" as single taxpayers earning more than $200,000 a year and couples with annual earnings in excess of $250,000. And he claimed an election mandate, saying, “On Tuesday night we found out that the majority of Americans agree with my approach.” ----
Obama also repeated many of the themes of his re-election campaign speeches in Friday’s remarks – such as his view that more federal infrastructure spending is needed. Obama did not take any questions.
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