Obama's weekly address: I won't compromise on tax hikes on the rich

In his weekly address, Obama says he wants an immediate resolution, but only if Republicans agree to raise the top tax rates on individuals earning $200,000 or more.

“If we’re serious about reducing our deficit while still investing in things like education and research that are important to growing our economy – and if we’re serious about protecting middle-class families – then we’re also going to have to ask the wealthiest Americans to pay higher tax rates,” he says. “That’s one principle I won’t compromise on.

“After all, this was a central question in the election,” Obama adds, alluding to the fact that he won.