Obama: Americans agree with my approach on deficit | Political Headlines | Comcast President Barack Obama, laying down his marker for grueling "fiscal cliff" negotiations, said Friday he won't accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes. Following up, Obama's spokesman said later that the president would veto any legislation extending tax cuts for families making $250,000 or more. failure to address the automatic tax increases and spending cuts could cripple the economy. A Congressional Budget Office report on Thursday projected that the economy would fall back into recession if there is a protracted impasse in Washington. Another 4 years of veto's and horse shit and more doom and gloom , what a dick weed .