Qa'dah 29, 1431 / Nov. 06, 2010, SPA -- President Barack Obama gave his clearest signal yet on Saturday of a possible post-election compromise with resurgent Republicans that could prevent tax rates from rising for any American, even the wealthiest, come January. President Obama, in his first weekly radio address since his Democrats suffered big losses in Tuesday's congressional elections, reasserted that Bush-era tax cuts should be made permanent for the middle class before they expire at year-end. But while insisting tax cuts for wealthier Americans should not become permanent because of a $700 billion impact on the deficit over the next decade, he left the door open to a temporary extension for higher income levels -- as long as it falls short of costing that much. "I believe there's room for us to compromise and get it done together," President Obama said, previewing his administration's negotiating stance when the current Congress returns later this month for its final session. President Obama, for his part, made clear he still does not want the rates for the wealthier Americans to be set permanently lower but stopped short of saying he would oppose a temporary fix. "I believe we can't afford to borrow and spend another $700 billion on permanent tax cuts for millionaires and billionaires," he said. He will meet Democratic and Republican leaders at the White House on November 18 to discuss the issue. "All of us want certainty for middle-class Americans," President Obama said. "None of us want them to wake up on January 1st with a higher tax bill."
