President Obama made a statement about the “fiscal cliff,” the impending tax increases and budget cuts at the end of 2012 if Congress cannot reach a new budget agreement. He announced that he had invited congressional leaders to the White House to begin negotiations. He said he was open to compromise with Republicans but that “I refuse to accept any approach that isn’t balanced.” He reiterated his position that the wealthiest citizens should pay more in taxes, saying that the majority of voters agreed with him.