*Administration of Barack Obama, 2012 *

**The President's Weekly Address **

*November 17, 2012 *

Hi, everybody.

Four years after the worst economic crisis of our lifetimes, our economy is growing again and creating jobs. But we have much more to do. Our task now is to build on that progress, because this Nation only succeeds when we've got a growing, thriving middle class.

That's what drives me. That's what I campaigned on for the past year. That's what will guide me in our work over the next 4 years. And I'm willing to work with anyone of any party to move this country forward.

Because soon, we face a very clear deadline that requires us to make some big decisions on jobs and taxes, on investments and deficits. Both parties voted to set this deadline, and I believe both parties can work together to make these decisions in a balanced and responsible way.

When it comes to taxes, for example, there are two paths available. One says, if Congress fails to act by the end of the year, then everybody's taxes automatically go up, including the 98 percent of Americans who make less than $250,000 a year. Our economy just can't afford that right now; you can't afford that right now; and nobody wants that to happen.

The other path is for Congress to pass a law right away to prevent a tax hike on the first $250,000 of anyone's income. That means all Americans, including the wealthiest Americans, get a tax cut and 98 percent of Americans and 97 percent of all small-business owners won't see their income taxes go up a single dime. The Senate's already passed a bill like this. Democrats in the House are ready to pass one too. All we need is for Republicans in the House to come onboard.

We shouldn't hold the middle class hostage while Congress debates tax cuts for the wealthy. Let's begin our work by actually doing what we all agree on. Let's keep taxes low for the middle class. And let's get it done soon so we can give families and businesses some good news going into the holiday season.

I know these challenges won't be easy to solve, but we can do it if we work together. That's why on Friday I sat down with Congressional leaders to discuss how we can reduce our deficit in a way that strengthens our economy and protects our middle class. It was a constructive meeting. And everyone agreed that while we may have our differences, we need to come together, find solutions, and take action as soon as possible.

Because if anything, that's the message I heard loud and clear in this election. Work as hard as you can to make our lives better, and do it together. Don't worry about the politics. Just get it done.

Everywhere I went during the campaign, from the farms of Iowa to the Vegas strip, from Colorado's Rockies to the Florida coast, I was inspired by the grit and resilience of the American people, by your hard work and sense of decency. And it makes me want to work even harder for you. I saw it again this week in New York, where our fellow citizens are going through a really tough time, but are helping each other through it. And we're going to be there to help them rebuild.

Every single day, the good people of this country work as hard as you can to meet your responsibilities. Those of us that you send to Washington have to do the same.

Thanks and have a great weekend.

NOTE: The address was recorded at approximately 5:35 p.m. on November 16 in the East Room at the White House for broadcast on November 17. In the address, the President referred to S. 3412. The transcript was made available by the Office of the Press Secretary on November 16, but was embargoed for release until 6 a.m. on November 17.

*Categories:* Addresses and Remarks : Weekly addresses*.*

*Locations: *Washington, DC.

*Subjects:* Budget, Federal : Deficit and national debt; Business and industry : Small businesses :: Promotion efforts; Congress : Bipartisanship; Economy, national : Improvement; Economy, national : Strengthening efforts; Elections : 2012 Presidential and congressional elections; Legislation, proposed : “Middle Class Tax Cut Act”; New York : Hurricane Sandy, damage and recovery efforts; Taxation : Tax relief.

*DCPD Number:* DCPD201200891.