Back to work, Barack Obama is greeted by looming fiscal crisis

Newly re-elected, President Barack Obama moved quickly Wednesday to open negotiations with congressional Republican leaders over the main unfinished business of his term - a major deficit-reduction deal to avert a looming fiscal crisis - as he began preparing for a second term that will include significant Cabinet changes. Obama, while still at home in Chicago at midday, called Speaker John Boehner in what was described as a brief and cordial exchange on the need to reach some budget compromise in the lame-duck session of Congress starting next week. Later at the Capitol, Boehner responded before assembled reporters with his most explicit and conciliatory offer to date on Republicans' willingness to raise tax revenues, but not top rates, as part of a spending cut package. "Mr. President, this is your moment," said Boehner, a day after congressional Republicans suffered election losses but kept their House majority. "We're ready to be led - not as Democrats or Republicans, but as Americans. We want you to lead, not as a liberal or a conservative, but as president of the United States of America." His statement came a few hours after Sen. Harry Reid, leader of a Democratic Senate majority that made unexpected gains, extended his own olive branch to the opposition. While saying that Democrats would not be pushed around, Reid, a former boxer, added, "It's better to dance than to fight." Both men's remarks followed Obama's own overture in his victory speech after midnight Wednesday. "In the coming weeks and months," he said, "I am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together: reducing our deficit, reforming our tax code, fixing our immigration system, freeing ourselves from foreign oil."
Kalinga Institute of Medical Sciences Pragativadi, Daily Odia News Paper KIIT University