Message From Barrack Obama

 An update on the bipartisan agreement to prevent a tax hike on 98% of Americans, straight from President Obama

    Hi, everybody, and Happy New Year. I just wanted to take a minute to give you an update on what we were able to achieve this week.
    In the face of looming deadlines that would have taken a big chunk out of everyone's bottom line, you know my top priority has been preventing a tax hike that would have hit 98% of all Americans in 2013—because the last thing middle-class families can afford right now would be to pay upwards of $2,000 more in taxes this year.
    And thanks to so many of you—because you made your voices heard throughout this debate—we have stopped that middle-class tax hike.
    But we didn't stop there. We extended tax credits for families with children, and tuition tax credits that are helping millions of families pay for college. We extended tax credits for clean energy companies that are creating jobs and reducing our dependence on foreign oil. And we extended unemployment insurance for two million Americans who are actively looking for a job.
    Now, ever since I took office, my preference has always been to reach a bigger agreement that solves our whole deficit problem in a balanced and responsible way. I'll admit, that hasn't always been as easy as I had hoped it would be. So instead, we're solving this problem in several steps. Last year, we started reducing the deficit through $1 trillion in spending cuts. And the agreement we reached this week will reduce the deficit even more by asking the wealthiest 2% of Americans to pay higher taxes for the first time in two decades.
    So that's progress. Just recently, Republicans in Congress said they'd never agree to raise tax rates on the wealthiest Americans. We've now raised those rates permanently—making our tax code more progressive than it's been in decades.
    Obviously, there's still more to do when it comes to reducing our debt. And I'm willing to do more—as long as we do it in a balanced way that doesn't put all the burden on seniors or students or middle-class families, but also asks the wealthiest Americans to contribute and pay their fair share.
    Once we get this done, we can get to work on the issues that will determine whether America prospers not just for the next four years, but for the next 40 years. Winding down the war in Afghanistan in a responsible way. Reforming our immigration system. Protecting our children from gun violence. Freeing ourselves from foreign oil and the harmful effects of climate change. Reforming our schools and opening the doors of higher education to more Americans. In other words, making sure this country remains a place where you can make it if you try.
    I know many of you devoted much of this year to our campaign. And I want you to know how grateful I am for that. But I hope you'll stay involved. Because just like four years ago, winning an election won't bring about the change we seek on its own—it only gives us the chance to make that change. What we fought for in 2012, we've got to fight just as hard for in 2013. So when I take the oath of office this month, I'll be as determined as ever. And I'm glad I've got you by my side. Thanks, everybody. Have a great New Year.