President Obama just gave a presser on debt ceiling talks, tax increases, deficit cuts and whatnot
We'll have more later. I had a hiccup with the embedded video..

I'm reviewing it now.

Jed live blogged it here.

Greg Sargent writes: Obama picks fight with GOP over tax cuts for the rich

The primary goal of President Obama’s presser, which just wrapped up, was obvious: He was clearly out to pick a major public fight with Republicans over tax cuts for the rich. Obama mounted a surprisingly aggressive moral case for ending high end tax cuts, casting it as a test of our society’s priorities, and argued — crucially — that anyone who fails to support ending them is fundamentally unserious about the deficit.

He also went out of his way to highlight GOP opposition to raising revenues by ending a perk for corporate jet owners. This proposal would raise only $3 billion, which means it’s trivial in the larger scheme of things, and Obama’s mention of it seemed deliberately designed to provoke howls of outrage and cries of “class warfare” from Republicans — with the obvious goal of maneuvering Republicans into the role of arch defenders of the interests of the wealthy...
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In another key moment, Obama seemed to draw a line against cost-shifting to seniors to solve the Medicare problem. He said:

We’re gonna have to look at entitlements. And that’s always difficult politically. But I’ve been willing to say we need to see where we can reduce the cost of health care spending and Medicare and Medicaid in the out years. Not by shifting costs on to seniors, as some have proposed, but rather by actually reducing those costs.

While there’s good reason for skepticism that the final deal won’t contain some kind of cost shifting, it was good to hear Obama lay down that marker in those terms.

More broadly, Obama stopped just short of saying he would not accept a final deficit deal without a high end tax hike. But his presser made it clear that he will will relitigate this fight and make it central to the campaign. And while we should keep in mind that Obama did ultimately cut a deal on the high-end tax cuts last time around, those who are hoping he will continue to make a strong moral argument in favor of ending them should be pleased by what they heard.

read on

Digby:

From his press conference today, it would appear that the president's negotiating strategy really is to give Republicans huge cuts in spending (and "make his base give him a hard time") and then shame them into "meeting him halfway" by agreeing to mildly raise taxes on some luxury items like corporate jet travel. (Luckily, he reassured the nervous CEOs by saying "you'll still be able to ride on your corporate jet, you'll just have to pay a little more" so hopefully they won't have a fit.)That's what constitutes shared sacrifice and fiscal responsibility. Good to know....read on

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