VIDEO- President Obama Speaks on Growing our Economy and Reducing our Deficit



President Obama's First Speech after Re-Elected - statement on tax rates and resolving the fiscal cliff crisis, delivered from the East Room of the White House, Nov. 9, 2012.

"And let me make one final point that every American needs to hear right now. If Congress fails to come to an agreement on an overall deficit-reduction package by the end of the year, everybody's taxes will automatically go up on January 1st -- everybody's -- including the 98 percent of Americans who make less than $250,000 a year.

And that makes no sense. It would be bad for the economy and would hit families that are already struggling to make ends meet."

"Now, I've got the pen. Ready to sign the bill right away. I'm ready to do it. I'm ready to do it."

So let's get to work.