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VIDEO: President Obama Addresses Fiscal Cliff, Holds Firm on Tax Hikes

Just days after Tuesday's presidential election, President Barack Obama invited Capitol Hill leaders to the White House for debt and spending meetings next week in order to discuss the country's looming 'fiscal cliff.'

On the election, he said that "the American people voted for action, not politics as usual."

VIDEO: John Boehner's Statement on Fiscal Cliff

"You elected us to focus on your job, not ours and in that spirit, I've invited leaders of both parties to the White House next week so we can start to build consensus around the challenges that we can only solve together."

He addressed the crowd, discussing his plan to do just that, saying that he hopes leaders will accept his invitation in order to help get input and ideas. The president also said that 'our top priority' has to be jobs as we face a series of deadlines for decisions about how to pay down the nation's growing deficit.

Related Posts:

  • Read a Transcript of the President's Remarks
  • FOX FACTS: What Is the “Fiscal Cliff”?
  • Michelle Malkin: We’re Hearing the Same ‘Recycled Rhetoric’ About Bipartisanship in Washington

  • According to the president, he put forward a 'detailed plan' to tackle spending, but wants to have a dialogue of ideas. "I want to be clear - I am not wedded to every detail of my plan," he said, adding, "I'm open to new ideas [...] but I refuse to accept any approach that isn't balanced ... [I'm] not going to ask seniors to pay down the deficit when people like me don't pay a dime more in taxes."

    Watch the full video below:

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