Obama signals compromise with GOP on tax cuts

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DAVID ESPO JULIE PACE, Associated Press

WASHINGTON (AP) — A chastened President Barack Obama signaled a willingness to compromise with Republicans on tax cuts and energy policy Wednesday, one day after his party lost control of the House and suffered deep Senate losses in midterm elections.

Obama ruefully called the Republican victories "a shellacking" and acknowledged that his own connection with the public had frayed.

At a White House news conference, the president said that when Congress returns, "my goal is to make sure we don't have a huge spike in taxes for middle class families....

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