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Good afternoon everybody over the last few weeks I've been working with leaders of both parties on a proposal to get our deficit under control avoid tax cuts or avoid tax hikes on the middle class and to make sure that we can spur jobs and economic growth a balanced proposal that cuts spending but also asks the wealthiest Americans to pay more a proposal that will strengthen the middle class over the long haul and grow our economy over the long haul during the course of these negotiations I offered to compromise with Republicans in Congress I met them halfway on taxes and I met them more than halfway on spending and in terms of actual dollar amounts we're not that far apart as of today I am still ready and willing to get a comprehensive package done I still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses I remain committed to working towards that goal whether it happens all at once or whether it happens in several different steps but in 10 days we face a deadline in 10 days under current law tax rates are scheduled to rise on most Americans and even though Democrats and Republicans are arguing about whether those rates should go up for the wealthiest individuals all of us every single one of us agrees that tax rates shouldn't go up for the other 98% of Americans which includes 97% of small businesses every member of Congress believes that every Democrat every Republican so there is absolutely no reason none not to protect these Americans from a tax hike at the very least let's agree right now on what we already agree on let's get that done I just spoke to Speaker Boehner and I also met with Senator Reid in the next few days I've asked of Congress to work towards a package that prevents a tax hike on middle-class Americans protects unemployment insurance for two million Americans and lays the groundwork for further work on both growth and deficit reduction that's an achievable goal that can get done in ten days once this legislation is agreed to I expect Democrats and Republicans to get back to Washington and have it pass both chambers and I will immediately sign that legislation into law before January 1st of next year it's that simple averting this middle-class tax hike is not a democratic responsibility or a Republican responsibility with their votes the American people have determined that governing is a shared responsibility between both parties in this Congress laws can only pass with support from Democrats and Republicans and that means nobody gets a hundred percent of what they want everybody's got to give a little bit in a sensible way we move forward together or we don't move forward at all so as we leave town for a few days to be with our families for.