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Obama Throws Down Gauntlet to GOP on Fiscal Cliff: 'Extend Middle-Class Tax Cuts Now'

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The election results are in: President Barack Obama has political capital, and he intends to spend it. That was the essence of the president's message, delivered Friday afternoon during brief remarks made the East Room of the White House. "In fact, the Senate has already passed a bill that will do just this," Obama said. "What we need is action from the House. And I've got the pen -- ready to sign the bill right away." He reached into his pocket, and drew a handsome black pen that he held up for the cameras. "I'm ready to do it," he said.

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