In it, but not of it. TPM DC

Obama Reiterates Commitment To Making Bush Tax Cuts For Middle Class Permanent (VIDEO)

Wm9r5unnjofscnbav5d8
Newscom

Still, Obama made it clear that he's willing to negotiate with Congressional leaders about what to do about the Bush tax cuts, which must be dealt with in this month's lameduck session before they all expire at the start of 2011. The president is set to meet with the leaders of both partisan caucuses in the House and Senate in the coming days, and told reporters in Seoul he expects to have a dialogue with them about the tax cuts.

"I continue to believe that extending, permanently, the upper-income tax cuts would be a mistake, and that we can't afford it," Obama told reporters, according to Politico's Mike Allen. Obama said he has "hope" the two sides of the debate can come to an agreement on the cuts.

"But I'm not going to negotiate here in Seoul," he said. "My job is to negotiate back in Washington, with Republican and Democratic leaders."

Watch Obama talk about tax cuts in Seoul in this CNN clip: