Obama at White House presser says he is willing to “take significant heat from my party” to get a budget deal.
Highlights from Obama’s remarks:
Says he “will not sign” short-term extension.
“I have bent over backwards” to compromise with Republicans on tax increase.
“Nobody” has talked about tax increases for this year or next—only as part of broader package.
Says leaders agree it’s “not acceptable” to not raise debt ceiling.
Deal must include “meaningful changes” to entitlement programs, requires both parties to sacrifice “sacred cows.”
“We don’t risk U.S default on our obligations because we can’t put politics aside.”