Obama Stands Firm on Tax Cuts

President Obama insists he hasn’t caved to the GOP on tax cuts—despite a Huffington Post report on Thursday saying that he had. Speaking Friday, Obama said his “No. 1 priority” is extending tax cuts for the middle class. “I also believe that it would be fiscally irresponsible for us to permanently extend the high income tax cuts,” he said. “I think that would be a mistake, particularly when we've got our Republican friends saying that their No. 1 priority is making sure that we are dealing with our debt and our deficit."