Obama says tax hike on rich should be part of fiscal deal

U.S. President Barack Obama delivers a statement on the U.S. "Fiscal Cliff" in the East Room of the White House in Washington, November 9, 2012. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) - Newly re-elected President Barack Obama offered on Friday to deal with Republicans to avert a looming U.S. fiscal calamity but insisted a tax increase for the very rich must be part of the bargain.

Obama reminded Republicans that his approach to avoiding steep tax hikes and spending cuts due in January, which could trigger another recession, had just won the backing of Americans at the polls.