U.S. President Barack Obama gestures while addressing his first news conference since his reelection, at the White House in Washington November 14, 2012. REUTERS/Larry Downing
WASHINGTON (Reuters) - President Barack Obama said on Wednesday that Republicans would have to agree to raise taxes on the wealthy as the first step in a budget deal that would prevent a dysfunctional Washington from pushing the economy into recession.
In his first news conference since winning re-election last week, Obama said he would be open to considering Republican priorities like entitlement reform and a tax-code overhaul as part of a broad-based deal to get the nation's finances on a sustainable course.
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